Gold was unable to unfold impulsive structure to the wave (v) target zone - and I have to assume alternative wave (v) (red) as possible completion of the wave 4 decline.
Above 1339.6 further impulsive decline would look unlikely, but as long as GC holds below the wave (iv) high we still may see an ED to the downside in the wave (v) target zone. Over wave (iv) high I would be looking for a next signal of the wave 4 low in place - take out 1345 level.
As for the wave 5 to the upside - I want to see clear impulsive move to the upside to assume wave 5 is in play. Please remember that wave 5 may also take form of an ED.
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