Hello Traders
An mentioned before, gold has completed major 5 waves high at 2080+/- then was on selloff mode, clocking 1937 low on Friday 26th May.
Let’s make it short, gold has broke last month low and currently forming a shooting star monthly time frame which hints for deeper corrections that can extend to 1904 1895 as wave A green, then correction up to 1964 and 2007 levels as B green on chart, followed by wave C correction that can extend to 1840 1807 +/-
A break below 1807 1803 wave (4) origin is extremely bearish. In this case we can either retest 1780 1730+/-
I will make up update should any reversal happens.
Regards
