GOLD (XAUUSD)
Updated
• Entry at completion of 2nd Elliot wave, crucial 50% Fibonacci retracement.
• Long term Bullish fundamentals with looming uncertainty of French elections and bolstering of china/Russian gold back payment network:
newsbtc.com/2017/04/02/china-russia-strengthen-ties-replace-us-dollar-gold-backed-trading-standard/
• Long term Bullish fundamentals with looming uncertainty of French elections and bolstering of china/Russian gold back payment network:
newsbtc.com/2017/04/02/china-russia-strengthen-ties-replace-us-dollar-gold-backed-trading-standard/
Note
Gold is likely to continue on its bull run with support at 1278 (61.8% retracement) with the French elections looming, unresolved tension within the Korean Peninsula is likely to escalate before a resolution is found.Demand has increased in India which appears to be related to the recent government crackdown on cash.
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