12 Aug 2020 ● 05:53 AM
Gold is now in a wave 4 correction, the structure of which is to be seen. While 4th waves can be a triangle, wave 2 was not very steep so wave 4 i this case can also be a steep zig zag like pattern. the major support is the 20 week average at 1772. We wont go that far I think becasue the weekly average is rising every week and will come up. A 61.8% retracement of 3 at 1830 is what you get if it is a steep correction. But if a triangle is forming we may not go below 1880. It is early to know the form that wave 4 intends to take.