Now Time To Correction Short

FX:XAUUSD   Gold Spot / U.S. Dollar
110 0 5
Technical outlook and chart setups:
Gold             is seen to be trading above $1,293.00 levels at this moment, consolidating its recent rally. As depicted here, the yellow metal should be heading towards $1,307.00/10.00 resistance levels before producing a meaningful correction. Please note that the fibonacci 0.382 support is seen at $1,200.00 levels, as depicted here. It is recommended to remain flat for now, and wait for the yellow metal to produce a bearish reversal at current or at $1,307.00/10.00 levels. Immediate resistance is seen at $1,307.00 levels, while support is at $1,275.00 levels respectively. The metal remains in control of bulls at the moment.

Trading recommendations: Remain flat for now, look to go short at higher levels ($1,307.00/10.00). Good luck!

Trade active: keep shorts active
Trade closed manually: book profit and exit from shorts now.
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