Gold bounced above the 50% retracement around 1208 area.
Interestingly, HIGHER LOW has been established upon completion of the Fib Time Zones and formed a HIGHER HIGH to the next time zone.
Hence, if the pattern will be respected, and the 50% level provides a STRONG support, buying from the current price is a good idea, forming NEW HIGHER HIGH targeting above 1300-1350.
Duration is up to November '17 to the next time zone.
Interestingly, HIGHER LOW has been established upon completion of the Fib Time Zones and formed a HIGHER HIGH to the next time zone.
Hence, if the pattern will be respected, and the 50% level provides a STRONG support, buying from the current price is a good idea, forming NEW HIGHER HIGH targeting above 1300-1350.
Duration is up to November '17 to the next time zone.