Hi everyone! As we take a look at gold action we could see that it hit our support level from our previous analysis(link below) and bounced back up again. I believe we are currently sticking to the channel and making a small bounce, a three wave correction. I believe we will continue the downward movement and hit second support afterwards.In the mean time for this upwards correction(bounce from s1) just keep an eye out for gold breaking the channel. This might turn it bullish but till then we can trade within channel or wait the drop to s2.
As always just a thought not an advice
Previous analysis:
As always just a thought not an advice
Previous analysis:
