westernshra
Short

GOLD - "The not so Safe Haven"

OANDA:XAUUSD   Gold Spot / U.S. Dollar
84 1 1
As expected, the US general elections spiked Gold             well over 500pips in minutes. With the elections now done and dusted, the technical bias of Gold             still remains bearish . Looking closely at the charts, we have closed back down below monthly and fibonacci res. With a clear break of temp. counter trend line support, this commodity will most certainely be heading for new lows. First downside targets @1248 due to obvious support and break of this level would see GOLD             drop even lower towards $1210 - D.WIllis

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