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Elliott wave Analysis: GOLD In A Pullback

Gold Spot / U.S. Dollar (OANDA:XAUUSD)  
ew-forecast Updated   
OANDA:XAUUSD   Gold Spot / U.S. Dollar
Trend Analysis Chart Patterns Wave Analysis Gold XAUUSD Elliott Wave correction impulsive
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trendanalysis chartpattern waveanalysis gold xauusd elliottwaves correction impulsive
Gold is turning lower, now trading beneath channel support line so we see metal in a new corrective wave. It's wave B that can be looking for a support at 1330 or maybe even at 1307-1316 area if we consider that B wave normally retrace at least 38.2%.

Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All our work is for educational purposes only.
Comment:
Gold turned up perfectly from projected support after three-wave decline as expected!! We remain bullish for wave C up towards 1400 level or maybe even higher!
Comment:
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