Gold reach the resistance Short

Gold/U.S. DollarFXCM

Description

⋅ Oct 19, 2014 3:29 AM

Preference: Short positions below 1240 with targets at 1220 & 1200 in extension.
Alternative scenario: Above 1240 look for further upside with 1244 & 1280 as targets.
Comment: Gold has reached monthly resistance at 1240 and 61,8 fib retracement.