Start watching for a minor reversal formation from 3rd October
Gold is making multiple hits in the 1482 - 1484 zone.
A break of this zone might expose the 1476, 1451 and a possible extension to the 1426 levels
The first target is a 38.2 retracement to the 1476 zone which is also a 1:1 wave alternation.
Target 2 is the 50% mean reversion of the 3rd wave advance from the 1346 level to the current high. This level is also 1.272
extended alternation of wave 2 and 4.
Target 3 is a 1.618 extension of the wave alternation of wave 2 and 4 occurring in the 1426 zone.
Gold is making multiple hits in the 1482 - 1484 zone.
A break of this zone might expose the 1476, 1451 and a possible extension to the 1426 levels
The first target is a 38.2 retracement to the 1476 zone which is also a 1:1 wave alternation.
Target 2 is the 50% mean reversion of the 3rd wave advance from the 1346 level to the current high. This level is also 1.272
extended alternation of wave 2 and 4.
Target 3 is a 1.618 extension of the wave alternation of wave 2 and 4 occurring in the 1426 zone.