Gold bug rejoice, more upside is coming!
We mentioned the inverse head and shoulder pattern on gold yesterday and noted the nested fib level at 1807 as a profit target zone. We not only hit that target but have appear to perfectly pull back into the neckline of the breakout, allowing for more position accumulation in this market. For today, watch the 1807 level again as gold tries to retest and potentially breakout from there. Next level to the upside would be another fib level at 1817 or back to support at 1800s.
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