Gold Possible Reversal Zone 1265-1275

19 Ara 2017

Gold is steadily climbing back up to where is broke out of the 2017 up channel. This area is nearing the .382 Fib that stretches from the beginning of the year until the high in September. There is also a point near 1275 where the bottom of the up channel meets the down trend resistance from September and the end of November. This is a zone I will watch if it comes near in order to take a short position. If gold turns here, I would expect it to for pass the .5 Fib at 1240 and head towards the .618 Fib near 1212. This would be close to support from the bottom of 2016 and the bottom of 2017 (purple support line).

Trade Well

AM