alexkyp

GOLD - is 1315 bulls next target ???

Long
FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
Gold follows the same pattern for the past 2 months, where big upward and downward movements happen after a whole week of consolidation.
Currently its following an upward trend after consolidating around the 1285.00 area. Bulls may target the 1315.0 (0.50 % fib level) before any major reversal to occur.
Also, if DXY follows its current downward trend traders may seek gold as a save heaven.