Spot Gold has completed the 1-5 wave down trend.
Wave 3 is particularly obvious, being the most impulsive and longest wave among the impulse waves.
Gold is currently undergoing a triangular correction with sub-waves a-b-c completed.
Now, sub-wave d is formed, in a probably 3 sub-sub-waves.
The first two sub-sub-waves i and ii have completed, with the sub wave ii particularly interesting.
This subwave went into a lengthy minor triangle and broken down the lower converging line recently.
It is currently clearly blasting down towards the support of line 5-b.
If the downtrend is strong, the corrective wave of this trend will usher in another down trend after subwave e has formed. That can bring the price of gold down to $600.
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