123Tom's TA study group

[123tom]

Looking at the Gold chart...

A pullback so far from 1362 to 1320 area...it could hold here and rally to the higher target zone around 1375/1385 area and Fail there to begin the greater downwave to end the year . but IF the downwave has already started now, from 1362...then it should continue to bounce and fail and down some more, bounce and fail and maybe this pattern...to finish the year with this downwave and target the 1200 zone.
But at this moment, it could bounce and climb back into the kill zone (1360-1387 area) critical to be shy of 1400.

I think the downwave in gold has targets below 1250/1260 ,eventually, as the year ends, maybe closer to 1200-1180 but in the current downwave, if it continues to develop, should test 1300 area,bounce to fail around 1330-1340 and continue down to test 1250/1260, bounce again to 1300-1320 fail again, and fall to 1250/1230/1210/1190 etc to end the year around 1200..