Fib projection off today's move against possible retrace suggests continued move to 79.374 level in next few trading sessions. The downward trend line appears to suggest the same with a downward sloping bearish pennant.
Comment:
The RSI indicator for XAUUSD appears at max further supporting this view in favour of silver.
Comment:
See chart by Whit3BoyRob of Gold Spot/ U.S. Dollar with RSI at max
Comment:
Reached 78.793 level.
Comment:
Next targets:
78.447
76.244
75.167
72.x
78.447
76.244
75.167
72.x