Gold corrective structure continues. $1185 still possible ?

Goldshort term wave structure still continues to be a corrective in nature. The rally between $1189 and $1213 earlier was in 3 waves. The sharp reversal lower was not a surprise and it was presented on Friday, that prices could still drop towards $1185 levels before turning higher again. Looking at the structure till now, the drop has been in 3 waves but it remains to be seen how it unfolds on Monday. Overall Gold remains bullish towards $1250/70 levels at least but could drop towards $1185 before rallying higher.


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