GOLD; long term out look
looking at gold on the monthly timeframe, I think that will eventually see a drop back down to the 0.50 fib level(1482.41) before we see a move to the upside around the 0.78 fib level at price 1733.15......The 0.682 fib level was recently reached on the monthly timerame and as we can see the market clealry experienced some resistance. If the current monthly candle closes below the 0.682 fib level i will be looking for short oppotunities. I will be getting my confirmations on the weekly and daily time frames.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.