Gold has been trading bearish for a while now and it's clear we are in an impulse phase. Wave 1 and 4 are not yet overlapped and wave 4 is trading between the 38,2 to 50% Fibonacci levels. Price is more likely to touch 50% before selling off soon and completing the fifth wave. The wave 5 is a motive wave meaning it can be an impulse or a diagonal pattern.
