Gold Could Rise To 1300
Gold was down on Friday after the NFP report, but the weakness did not last long as pull-back from 1267 was just wave (b), still only the second leg of an incomplete three-wave rally from 1180. As you know, we are tracking wave 4, which that may reach th 1280-1300 area before the downtrend returns. So for now, let's focus on higher prices within wave (c).
Gold: H4
On the intra-day chart, Gold is forming an intra-day pull-back from its latest swing high, which we think is a correction within an uptrend from 1207. Support for current three waves down comes in at 1240.
Gold: H1
