Gold Potential Long Opportunity

Gold wants higher but bears are giving a good fight here. The minor trend is down and 0.236 of fib extension of the last leg down is clearly showing signs of resistance around the level of 1310. This long set up is essentially a counter trend setup which is not recommended usually but given the current circumstance, it might work out fine. Failing around this area, will ultimately lead to lower price around 1270, so tight stops are necessary.

Order cancelled:

Bulls failed. Higher odds of reaching 1285.