On the intraday chart of GOLD, we are observing a complex correction in the making with current slow price activity being sub-wave B) as part of a correction. That said current slow price development suggests a triangle in the making within wave B), that may after its completion point towards more weakness in the following wave C). Support for the whole correction may later be around the 38.2 Fibonacci ratio or even lower around the previous swing low at 1246 level.
GOLD, 1H
