- The Fibonacci Extension from the previous bull run should continue to be the frame for Gold's price action moving forward.
- OBV (On Balance Volume) on the macro level is trending upward indicating that the buying pressure outweighs selling pressure.
- OBV on the 4hr chart shows the recent sell off has corrected back down to a level where buying pressure should start to pick up.
- Between the 0.618 and 0.5 fib levels is a great place to accumulate a long position.
Long MGC +1 @ $1,880.70
- OBV (On Balance Volume) on the macro level is trending upward indicating that the buying pressure outweighs selling pressure.
- OBV on the 4hr chart shows the recent sell off has corrected back down to a level where buying pressure should start to pick up.
- Between the 0.618 and 0.5 fib levels is a great place to accumulate a long position.
Long MGC +1 @ $1,880.70
