chartwatchers
Short

GOLD' s next level at 1180

FX:XAUUSD   Gold/U.S. Dollar
190 0 8
After the succesfull test of the 2015 Nov IC             Top and the hourly 50 EMA at 1190 we had a testback to the hourly 50 EMA.
Next level is 1180 .
The hourly 300 EMA and the 61,8% Fibonacci retracement on the daily chart is at 1180.

It's still not the daily cycle low. So don't try to buy. More pain is coming....

I will try to sign the exact daily cycle low, which is coming next week .
I still think we are in a bull market and this is the first bull market countertrend rally.

We are waiting for the second leg up to 1300-1350.

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