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themarketzone
Dec 4, 2016 10:02 AM

Two support zones to focus on towards FOMC 

SPDR Gold TrustArca

Description

Gold completed a 61.8 Fib retracement last week and some buyers stepped in.
110-112$ is a support zone that I mentioned in my previous analysis. It can create a short term bullish move especially when DXY is having trouble with the monthly 61.8 Fib level (see linked idea).

110-112$ and 106-107$ is two support zones that should be in focus as we approach December's FOMC. The first one is a major structure zone and the 61.8 Fibo and the other one is the PRZ of a Cypher pattern and a re-test of the broken Wedge pattern.

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