It is assumed that in the long term, a triple zigzag pattern is formed for gold, which consists of five main sub-waves Ⓦ-Ⓧ-Ⓨ-Ⓧ-Ⓩ.
Perhaps the first two sub-waves Ⓦ-Ⓧ have already been formed, and the third sub-wave Ⓨ is under development.
The internal structure suggests that the wave Ⓨ takes the form of an intermediate triple zigzag, in which we can notice complete sub-waves (W)-(X)-(Y)-(X).
Thus, in the near future we can expect a possible price rise and the development of the final intermediate wave (Z). Its end can be expected near 2003.60. At that level, it will be at 61.8% of previous actionary wave (Y).
However, the primary actionary wave Ⓨ could have ended, it is a double zigzag (W)-(X)- (Y).
Thus, in the near future, the price may move down, forming a primary intervening wave Ⓧ. Perhaps it takes the form of an intermediate zigzag (A)-(B)-(C).
We will probably observe the end of the wave Ⓧ near 1747.67. At that level, it will be at 61.8% of wave Ⓨ.
