Gold is preparing to terminate Wave ii around $1820/25
Gold is most probably unfolding a lower degree Wave ii within Wave (iii), and is expected to hit $1820/25 zone. The yellow metal is facing trend line resistance, fibonacci 0.618 retracement and also previous Wave iv termination around $1820/25 zone. At the moment, the yellow metal might be unfolding as a triangle and it might take another 1-2 trading sessions for prices to reach $1820/25 mark. Only a break above trend line resistance and $1855 will open doors for a test of $1880/1900 zone before reversing lower again.
Remain short against $1965, add more @ 1820/25, towards $1650.
Remain short against $1965, add more @ 1820/25, towards $1650.
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