The chart below is the long-term monthly outlook. Since 1971 gold is in a primary impulse wave [1]. Right now Gold is developing wave (5) from this wave [1].

Gold is in a corrective phase for wave 4. The correction is an asymmetric triangle and right now we are in the final (e) wave. The possible target for the end of that wave is about 1720-1750. The critical point for that analysis is the bottom of a wave (c) 1685.

The alternative count suggests that either a wave (V) is completed with the last history high or a wave (1) from this wave (V) is finished. In this case, we are in a deeper correction and this symmetric triangle will be a wave X and is finished right now. The possible down target is the zone 1480-1530usd/oz.

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