Gold is reversing before reaching the round $3,000 mark.

12 Mar

Gold is reversing before reaching the round $3,000 mark.

As you can see on the chart, we’ve hit the 227% Fibonacci level.

— Back in 2008, after testing this level, we went into a correction.

— I think we might see a similar scenario play out from here.

Dollar Index:

SP500/SPY:

12 Mar

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A mistake was made on gold. I did not recognize the continuation of the trend.