Gold perspective

Today's data made a spike up that was quickly rejected and showed that the main trend in gold is still down. We also broke the 0,618 support from the fib fan and I believe we're headed towards 0,5 angle. The Gartley pattern shows a nice confluence of fibs at D:
0,786 XA
1,414 BC
1 AB from C (I like this one, seldom used)
As some indicators show, we are getting quite oversold, so it's possible to have some retrace before reaching this target. Do not underestimate the fact that tomorrow is the full moon, we may see another selling spree, see my previous post.

Yorum:

Be aware of the long term objective of this idea. As mentioned before, I believe there will be a spike up before reaching the target of the pattern.