Does history repeat itself?
It looks like it might, especially in the case of Gold.
Having found strong support at the 1617 price level (and DXY weakening significantly) Gold showed a really strong upside move, as the price shot up toward the 1680 price level.
This similar price movement happened at the end of September too. With the price bouncing off the 1617 support level and climbing all the way to 1729.
Look for the current price to break above 1690 (which is also the 61.80% Fibonacci retracement level) to signal a continuation of the upward move, with the 1729 price level and previous swing high, as a target.
It looks like it might, especially in the case of Gold.
Having found strong support at the 1617 price level (and DXY weakening significantly) Gold showed a really strong upside move, as the price shot up toward the 1680 price level.
This similar price movement happened at the end of September too. With the price bouncing off the 1617 support level and climbing all the way to 1729.
Look for the current price to break above 1690 (which is also the 61.80% Fibonacci retracement level) to signal a continuation of the upward move, with the 1729 price level and previous swing high, as a target.
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