It's only Monday therefore please don't rush in and be patient.
I hope you all had a nice week end.
GOLD -0.32% , after hitting 1160 (X), bounced up towards the 200 with a classic five wave move. During the retracement phase from 5 to B the price hold it above previous low (4) to form a divergence with B in the . The push that the precious metal is receiving from the 200 may drive the price to break B and target 4 or maybe even the 0.618 Fib from X to 5. Otherwise, if B hold and GOLD -0.32% crosses the 200 price may target 5 or higher.
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Please note that I am not a professional trader and these are my personal ideas only.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
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