Some time ago I said that minor fractal number 5 was in place and that minor fractal number 6 was ongoing. If minor fractal number 6 will be equal in size (percent wise) to major fractal number 6 we will se a 25.48 percent decline from 1,161.50, which will give us a target near 865.55. There will be some strong support along the way down, but as this is a C-wave its personality will be as a wave 3 - strong!
I'm sure that the gold bulls will not look pleasantly upon a break below support at 1,000, as this will destroy their invers Shoulder/Head/Shoulder.
Just remember one thing. the long term uptrend in gold is still firmly in place this is legg C of the ongoing correction, but investing in gold was becoming way to crowded.
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