FX_IDC:XAUUSD   Or / Dollar Américain
#gold #xau #metals
Gold is showing signs of slight exhaustion as we complete this 5 wave WXYXZ structure showing divergence amongst the two peaks of the most recent impulse waves through the RSI .
The orange area is a fibonacci extension where price may find a deep sell off if not then, possibly now.
If price continues into the extreme level, this may fall quite rapidly.

Yellow Projection: Preferred scenario entering into the orange area for short sells.

Teal Projection: Second scenario: Moving through extreme level would suggest a price target as high as $1,285.

For more conservative sell opportunity, wait for EMA 21 to cross EMA 55 , or trend line close below.

Looking for 3 wave correction as low as $1,220

FED looking hawkish would also promote a drop in gold .

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