Gold XAUUSD Daily Update

So far the bullish scenario of wave 1,2,3,4 has been invalidated due to wave 1 and 4 overlapse.

The best fit right now is very complex and time consuming wave 4 in shape of WXY pattern. The bottom for this correction is $1540 - $1527 area. From there more impulsive bullish action is anticipated.

Seb