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Nick010

Gold to retrace to 1300 area

Short
Gold Spot / U.S. Dollar (FOREXCOM:XAUUSD)  
Nick010  
FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
Fibonacci Economic Cycles Candlestick Analysis Gold goldtrading goldusd goldshort goldanalysis goldstocks goldsell
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fibonacci economiccycle candlestick gold goldtrading goldusd goldshort goldanalysis goldstocks goldsell
Gold topped out with a double top consisting of two very ugly bearish doji candles on the monthly charts.

Additionally, monthly RSI is showing bearish divergence in oversold territories.

Retrace to the .5 or .618 fibs (1378 USD, 1300 USD) coinciding with horizontal support.
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