Gold

The bullish alternative in near term :

Under a bullish outlook, Gold may be developing an (a) – Triangle (b) – (c) formation, as the wave ii of minute degree. The wave (a) completed at 1219.8 – wave (b) triangle is completing – and wave (c) is ahead.

Currently, the latest wave of the running triangle wave (b) could be in progress. The ultimate target for the wave e of (b) is 1183.5, where is the extreme point of wave c of the triangle. And the estimate immediate target for the following wave (c) up is through 1233.7, where wave (c) equals 0.618 times the length of wave (a).