Gold (XAUUSD) on the 4H timeframe signals a potential bearish move. Wave (X) appears complete, with an ABC correction likely targeting $2,645.90 (1:1 W=Y). Bearish RSI & Stochastic divergence suggest weakening momentum, supporting downside bias. Wave 4 may complete before a bullish continuation.
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Momentum of demand is dominating in Gold. I'm expecting price would like to make an ending diagonal of wave 5 with 3 leg each sub-wave. Weak demand upward will confirm our next price projection. 
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.