OACFX
Short

Gold long term short

FX:XAUUSD   Gold Spot / U.S. Dollar
Coming through the KUMO as a reversal setup, price will be expected to range between 1100 and 1300 until the autumn months of 2015. IF the lagging span clears the cloud in bearish territory there is potential for 1029 and further 722. However at a crucial 61.8%FIB retracement level there could be long positions made here. Overall, the chart shouts short positions along the downward channel and counter trend trading is somewhat questionable for medium term trading. I may expect a bounce to the 50% Fib at 1300 approx. then a further short to the 1029 area.
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