Gold: a bounce before a larger move down?
My gold index is evolving in a bear flag type of pattern which should resolve lower. although price currently hit the support line of its symetrical triangle which should provide a temporary bounce, I will be looking for short entries to target the 61.8% and 100% extension fibs.
註釋
Gold has been bouncing as anticipated but we are yet to see an impulsive move. So far the move looks really corrective.Daily chart:
註釋
Gold reached our target. Short positions are now favoured against the top of the symetrical triangle.註釋
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