Gold seems to be making either a 3 drive to a bottom harmonic pattern or a harmonic butterfly. In case of the 3 drive to a bottom - the bounce area is the 61.8 fib retrace The butterfly is in a conservative view to bounce for the 78,6 fib retrace at 1554.... but could if gold bugs is in ecstasy go as high as the 88.6 fib retrace at 1725 Safe trading ladies and...
nearly 2 months going between 2 MA. I am still waiting around 1080-1120 areas.. Under 1274 target will 1222... 1274 is key level for sell pos... above 1303 again will cancel 1222 target... I am trading short side...
The gold sector has been rather sanguine of late and considering the lack luster performance of the underlying, that sector under performance is understandable. I believe there are areas within the gold space that are starting to offer 'value' investors some very interesting propositions. The great part of 'value' investing is we are often presented ideas when...