OANDA:XAUUSD   Gold Spot / U.S. Dollar
The recent bullishness in the yellow metal hints of a long-term bull cycle.
It has completed its 3rd wave in the form of 5 waves and is currently undergoing correction(wave 4).
We expect the correction to come to a halt where the trendline and 50% retracement value confluences.
We also anticipate a new high in the counter in the form of a wave 5.