20777183

20777183

Prior to the current up trend on the weekly time frame, gold has been steadily falling from $1375.15 eventually touching $1120.29. price then reverse, going up and reaching the following key point: Going up, it breaks the 24% fib level, continues & touches the 38% fib level, but doesn't hold. 38% fib (1217.75) becomes resistance and 24% fib ($1180.44) becomes...

20777183

I think we should be bearish for the month of September up until the OPEC ministers meeting in Algeria in September 2016. During the period of the meeting we should see flag formations or side movements until we know what sentiments are being put out. from the we should be bullish till end of October.

20777183

I could be wrong, But our next long target should be for $42.17. The channel has already changed direction.

20777183

I think the bulls will be out for the rest of the week.