Gold has done well over the last week moving higher every day. Gold is coming to a key level again on 1300 -1306. This is the 5th time gold is testing this level and has only broken out once before back in August.
If you do a fib retracement from the low on May 2015 to this high of July 2017, you'll see all the key fib levels. The 1306 zone for Gold is key. It needs to break and close above this for a move higher. A cycle high is due to be set around the 1st of January, then there will be a pull back before the next move higher.
Key levels to watch for gold are ;
1213 - (50% Fib)
1252 - (38.2% Fib)
1302 - (23.6% Fib)
If gold can break 1302 and close above it, then after the pull back in January there should be a move toward 1380 level. Be aware though that there is major resistance between 1366 and 1374.
Gold will give a pullback and that can be your chance to go long.
We've been long since 1271 on this current move.
If you do a fib retracement from the low on May 2015 to this high of July 2017, you'll see all the key fib levels. The 1306 zone for Gold is key. It needs to break and close above this for a move higher. A cycle high is due to be set around the 1st of January, then there will be a pull back before the next move higher.
Key levels to watch for gold are ;
1213 - (50% Fib)
1252 - (38.2% Fib)
1302 - (23.6% Fib)
If gold can break 1302 and close above it, then after the pull back in January there should be a move toward 1380 level. Be aware though that there is major resistance between 1366 and 1374.
Gold will give a pullback and that can be your chance to go long.
We've been long since 1271 on this current move.