The counter trend pattern might finalize the C-wave this week and reverse to the downside. If it is only a narrow correction or beginning of a new down trend, I can't say, yet.
The fib, extension levels 1,27, 141 have been taken out. If bulls have the upper hand they might push price action to 1,618 @ ~1805 before price action reverses. I'll keep you updated. Trade safe, be well...
About Gold Next Week #
A weekly 3-10-minute forecast video on Gold's price action on a weekly basis. I'll follow up with charts throughout the week as price action develops patterns and reversals points.
Topics: Market sentiment, Gold Shares / Gold EFT's, $DXY and US10 /30yr Bonds and Yields
System: I use a hybrid blend of Wave Principle price action, Fibonacci ratios, indicator and some fundamentals.
Disclaimer: nothing talked about in this video should be regarded or seen as trade advise, a trade call, a recommendation, or a trade signal. Do your own due diligence or seek advice from a licensed professional before entering a trade.