Gold could move sharply down in 3rd wave once it slips below 1347$ & later going below 1340$-shall put more pressure. We shall look for an equality target of 1325-1330$ first below 1340$ as support zone - likely it should travel atleast that much but usually 3rd waves travel 161.8%-of 1st waves -which comes in the zone 1305$-1310$.
00:20 Hrs-IST-17th Aug2016
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Best Regards, Abhishek H. Singh, CMT India Regional Manager http://in.tradingview.com | LinkedIn India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ