UPDATE - After a long waited consolidation phase and trying to break the neck line (red thick line), gold finally broke 1656 (50% Fibonacci - daily range) and declined as far as 127% Fibonacci at around 1649. If gold could be stable below 1656, it potentially go further down to 1646 - 1640 - 1637. Otherwise it flips back to the upside and testing yesterday High or even higher.
In case of another decline and break 1647 (50% Fibonacci - weekly range), the Bullish Butterfly harmonic pattern scenario, may not be valid any longer. Gold could be going down for the rest of the week.
No comments:
Post a Comment