On the hourly chart, gold continues to decline from the 1903 top targeting the 1854 low, and while we prefer a higher downside towards 1840-1820 to consolidate buying positions, gold turns negative. Looks but it may not go towards areas of strong demand around 1820 so if the decline continues till 1820 we prefer to start buying gold with repurchase at current level around 1863.
Trade stability above 1854 With a return to target of 61.8% Fibonacci 1872, this will return gold to the target of 38.2% Fibonacci 1885, then 23.6% Fibonacci 1894
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