Gold has just dipped back under the 1600 level and is now starting to show signs of a potential push up higher. We did see a small fakeout of the daily trendline but pushed back up early on the market open.
Can see a nice Fibonacci retracement back down to the 38.20% area, retested the broken trendline, but I'm not jumping into taking this back to the upside just yet, I do think we will consolidate for the next 8-12 hours until the London session tomorrow morning.
Can see a nice Fibonacci retracement back down to the 38.20% area, retested the broken trendline, but I'm not jumping into taking this back to the upside just yet, I do think we will consolidate for the next 8-12 hours until the London session tomorrow morning.