INTRADAY   I   4HOUR   I   DAILY   I   WEEKLY.IntradayGold 1 Hour ChartWednesday, 9 January 2019 at 12:44:00AM AESTGOLD is dropping from the 1295 level in five minor waves, which can be start of a wave c of a higher degree. We know that after every five-waves a temporary three-wave pullback may follow, which can later look for resistance and a turn lower around the 1287/1290 region. Invalidation level is at 1295. 4 HourGold 4 Hour ChartWednesday, 16 January 2019 at 6:31:00PM AESTNo change.Precious metal was trading bullish from 1232 level and also unraveled a five-wave movement within leg five of A. This five-wave movement can now be retraced by a temporary three-wave pullback, labelled as wave B, which can look for support and a bounce near the Fibonacci ratio of 50.0 or 61.8(1265/1260 area). That said, currently we see price unfolding sub-wave b of B, which can look for a bearish reversal near the 1300 zone. DailyGold Daily Chart13 January 2019Gold is recovering very sharply, but this is still seen as wave E), final leg of a big triangle in wave B. As such, bulls may start to slow down at the start of 2019, ideally at 1300-1330 area where we see 61.8% Fib projection level of red wave C). WeeklyGold Weekly Chart02 January 2019- a triangle in play within wave BGOLD is trading bearish when observing the whole decline from 1922 level, but mostly sideways for the last three years, which we see it as part of a corrective movement within a big wave B of a three-wave A-B-C bearish reversal from the all-time highs. It can be approaching the final leg E) of a triangle which can look for a bearish continuation in 2019, unless it’s a flat that can push the price into 1400 area, before we may see a strong decline back to new lows for a wave C. That said, we believe that GOLD may drop below 1000 level in the upcoming months, before we may consider any bullish scenarios.