There is a possible pullback in Gold futures on Monday. From a level of 1700 it can rise to a level of 1735 upto a level of 1765. (Please see the 4th bottom chart)
From there Gold to resume its last journey downwards .
In my last post I had said that there was a possibility of the bottom being made but also the possibility of another zigzag continuing downward.
This seems to be the continuation of the same zigzag movement downwards and the bottom now is seen as between 1500-1600 levels.
Above analysis is based on elliot wave which is subjective in Nature. Viewpoints can differ. This is strictly an educational forum and any investments made by you must be done after careful fundamental assessment.
