Gold to finish a 1-year-lasting pattern

Gold has been trading in a range recently, moving sideways between 1306 and 1333. When we happen to see this type of hesitation, there is one particular pattern, which comes into mind – the triangle. Triangles precede the final movement of the larger sequence. Let’s see how it fits into our wave count this time.gold 9.7.14.It seems to be wave B of an A-B-C zig-zag pattern of wave (E), according to our big picture outlook. If this is the correct count, there should be one final swing lower in wave B, after which we should expect wave C of (E) of the bigger triangle to lead gold higher for one last time, before the journey to 1100 begins.

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