Elliott wave analysis on Gold

Gold - Important support at 1,521 held firm once again, but it's too early to declare the downside secured. My favorite count sees the rally from 1,527 as a flat correction, which will have an ideal target for wave c and red wave ii near 1,646, from where risk again turns to the downside.
In the big picture the Critical support is at 1,521 and a break below here will open up the downside for a powerful decline into the 864 - 1,005 area, with 864 being the ideal downside target.
Only a break above 1,670 will ease the downside pressure, but we need a break above 1,790 to turn picture bullish again.