Gold Is Impulsive; Could See New Sell-off From Around 1310

Gold Is Impulsive; Could See New Sell-off From Around 1310Gold fell sharply lower last week, even through the 1300 psychological level. Decline is looking impulsive, which means that move should be made by five smaller waves before the bearish trend can find the low. At the moment we can see some reversal to the upside, but we think that's only wave four that will be looking for resistance area around base channel, and at the 38.2% Fibonacci level area; close to 1310.