Gold

We believe wave “W” ended @ 1277. Wave “X” concluded @ equal legs (1331) and decline has resumed in wave “Y”. Wave (( b )) is taking the form of a FLAT and can reach as high as 1311 – 1320 before Gold turns lower again in wave (( c )). We prefer to be on sidelines at this stage as ALT view allows for new highs above 1331 to complete FLAT wave X before the decline resumes.