JStanleyFX

Gold running into channel resistance

FX:XAUUSD   Gold Spot / U.S. Dollar
191 0 0
Gold             broke through the 2015 trend-line earlier this morning, but perhaps more interesting is the mid-line of this channel that's been in action for 2+ years. This also coincides nicely with the 61.8% Fib retracement of the 'secondary move,' which takes the 2008 lows to the 2011 highs. A short setup may be approaching should this resistance hold.
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