Gold is trading sideways for now, it could be a lower degree wave ii within Wave C higher towards $1880 or wave iv of C of an expanded flat. If the latter is correct, the yellow metal can drop below $1810 marginally before reversing higher towards $1880/90. A clear push through $1830 will confirm that the proposed Wave C rally towards $1880/1900 is underway. We remain watchful for now and prepare to sell around $1880/1900 zone.
Short against $1965, towards $1675 and beyond
Short against $1965, towards $1675 and beyond