Gold Wave M-5: Bearish – Sub wave formation before next drop

Gold has tested the Q123ML now for the third time and next time will not revisit for a retest. We are in wave D-5/W-3/M-5/Q4, and are expected to challenge the D channel MLU in a narrowing trading range until late Q1 2015, before dropping late Q1 / early Q2 to complete wave W-3.

Gold D-5W-3M-5

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