Gold moved to new ATH as expected after price action from the last two months looked corrective.
It was the fourth wave, ideally a triangle so that it pushed higher, up to 2480.
It was the fifth wave of an extended III, which was now already done because of a sharp turn south last week. It looks like an intraday impulsive bearish reversal, so more weakness can be coming, ideally south for a new higher degree wave IV.
In such a case, we will be tracking an A-B-C decline back to the 2300-2340 area.
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Grega