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GOLD Bearish Reversal In Progress, Could Hit 1300-Elliott Wave

|Includes: Randgold Resources Limited (GOLD)

GOLD reversed nicely, perfectly lower from 1490 area two weeks back where base channel turned into a resistance as discussed in our latest video analysis. Notice that fall from that zone is now very sharp, showing evidences of an increase in volume and momentum so we suspect that market is underway to 1220/1300 area for fifth wave of decline in wave (NYSE:C).

Gold Daily Elliott Wave Analysis Chart

VIDEO: EURUSD, GBPUSD, AUDUSD and GOLD Click Here

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