One way we'll be able to tell if this bullish move up is getting ready for a new bull run towards $12,300 already, or its creating a 'Wave C Triangle' corrective as labelled on the chart, is by seeing how quickly Gold moves up towards $4,600 - $4,800.

If Wave C moves up too quick, then there's a chance that this might not be a corrective wave, but more of an impulse wave wanting to create a new high. If it moves slowly & choppy (like a corrective wave should), then it's likely we could see Gold drop lower one more time towards $3,800. Game of patience⏳