Gold behaves very erratic the last days.

FX:XAUUSD   Gold Spot / U.S. Dollar
458 4 0
I think that it resumed its downmove after the break under the resistance channel again.
I am taking the profit now as gold has reached its target zone(fair ellipse). It was good notto work with a stop in this case, As I said, gold has been behaving very erratically in the past days. And my experience has shown that the price made its way after one ore more retests of the opposite direction only. Same was with the dollar. But finally I have been right and could turn my view into money.
if stock continues to go up... gold got to settle for 1220, channel bottom which coincide with IHS neck line support i believe
+1 Reply
motleifaul jangseohee
I prefer a target of abt 1240 which has ben the hight in December.
+1 Reply
jangseohee motleifaul
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