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GOLD: Potential Significant Move Ahead

FX:XAUUSD   Gold/U.S. Dollar
337 0 3
The recent sideways consolidation from Gold             looks ready to end soon. Targets at G and Y can be seen as likely places for Gold             to move to.
If the market is wanting to move to G, it will need to break the significant purple support / resistance zone to do so and this offers a technical trigger consideration if broken through. For the market to make it to G on time, it will have to be a quick move, time is running out. We are watching for another drop, similar to what can be seen from the drop off the top of the triangle.
If the consolidation breaks to the positive, several purple s/r zones above the market give technical trigger considerations for a move to the grey s/r zone at the top of the chart. Target at Y shows the possible timing on this.
Fibonacci circles offer timing considerations for when the market will finish off the consolidation.
The Point: Market has the potential to break soon.
Andrew J.D. Long, MFTA
MATASII.com

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