Gold - Fractal point 5 is done

The break back below the upper light green resistance-line show us, that fractal point 5 has finished and we can now expect a serious sell-off down to at least 957. A break below strong support at 1,000 will make the perma-bulls pull the emergency break.

The famous invertede Should/Head/Shoulde would be invalidatede and the extrem high number of speculative contracts/positions will have to be closed.

Possible fractal in Gold (XAU)

Could a possible fractal be building in Gold (XAU)?

If yes, we should expect the ongoing rise in gold to reach the 1,195 - 1,196 area ending black circle 5, from where a serious decline to around 970 should begin, which would end minor black circle 6.

Please be aware, that the chart is a semi-log chart, so the two rectangles are close to be equal in points size, whereas the purple has only taken about half the time the organge did.

A clear break above 1,196 would call for a move higher towards 1,300.