GOLD Elliott Wave Analysis: Looks For ABC Correction

Gold fell to a new low on Tuesday but then reversed significantly from 1181 which means that decline from 1267 appears to be a completed five wave move, so current award reaction should then be a temporary corrective retracement. Corrections are three wave patterns so be aware of more upside after wave b). Larger trend remains down as long as 1267. www.ew-forecast.com