E Gold Trading In A Temporary Retracement; More Upside In View

Gold keeps moving lower since last week when a gap lower occurred, so we think that market is a corrective set-back of a higher degree. An updated count shows a double zigzag from the highs which is late stages, so sooner or later a reversal can occur, but still, weakness may resume down to 1246-1250 before strong bulls may come in play.

GOLD, 4H