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GOLD : New Bearish Cycle Underway

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Nov 04 2015

Gold keeps trading lower with very aggressive and sharp decline since price broke the lower side of a trading channel near 1158. This will typically occur in wave 3 of an impulsive price action so it looks like that metals are headed back to the lows of 2015. In fact, leg from 11183 is extended that is now trading close to 261.8%. Ideally price will find some support here but only temporary for a bounce up in wave 4 before we go to even lower levels. Invalidation level is now at 1158 as long this one holds trend is down.

GOLD, 4H



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