Gold 15 Minutes Wave Counts Suggesting Bears Are Back In Control

Gold wave (4) looks to have finally terminated at 1268.30/40 levels yesterday. It might be too early to predict but the story begins to unfold at smaller degrees first! The yellow metal seems to have formed an impulse wave 1 and corrective wave 2 at a lower degree and the 3rd wave should be on its way now through 1250/52 levels. Lets see if it unfolds into an impulse at at higher degree. Trading point of view, remain short from current levels, stop above 1277 and target through 1200 levels.

Sincerely

Harsh Japee