After moving into uncharted space with a high 2076 ( up the stairs) , price has plummeted ( down the elevator) yesterday.
After such a rapid move, it is likely price will consolidate around the Monthly Pivot of 1905 , and may even
test the 200MAV at 1873 for the most part of this week.
Support is around $ 1816 .
The bias is still to buy gold , and this is seen as a necessary correction , to facilitate a higher gold price.
1. Enter long - ( if not already at .50 fib) around the 200 MAV.
2. Target - prior high
3. Stop - below support
4. RR = 2+
After such a rapid move, it is likely price will consolidate around the Monthly Pivot of 1905 , and may even
test the 200MAV at 1873 for the most part of this week.
Support is around $ 1816 .
The bias is still to buy gold , and this is seen as a necessary correction , to facilitate a higher gold price.
1. Enter long - ( if not already at .50 fib) around the 200 MAV.
2. Target - prior high
3. Stop - below support
4. RR = 2+
