As I noted in my previous post on Gold, “the structure of the rally in wave (c) of ( iii ) up is incomplete. That makes me think that we may get a shallow pullback holding over the previous corrective wave iv down and then make another higher high up to 1,347. If we get that wave b down and then wave c up to a new higher high that would complete the strongest part of the rally in wave ( iii ) up. Then we should expect a corrective wave ( iv ) down.”
I do not have anything to add this morning. As you can see on the chart below, Gold has been moving in a perfect upward sloped bullish channel.