XAUUSD is in corrective mode, looking to short at up channel

OANDA:XAUUSD   Gold Spot / U.S. Dollar
Hi fellow traders,

Gold has been pushing down from its highs at around $1,560. xx USD/oz to the current lows at $1,459.17 USD/oz, and now it is heading upward to the near resistance zone at $1,505.xx-$1,507. xx (61.8% fibs retracement). From there, I expect there will be slowing with upward momentum. So if these price levels would be denied, then $ 1,450. xx USD/oz is expected for.
Keep watching the price action and short at the right time to the right price :)
Trade well!


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