fhsk2001

fhsk2001

Gold hit the middle of Keltner weekly channel. EMA 200 and EMA 50 weekly major support are at 1255-1260 areas. Moreover 1260 level corresponds to 0.618 fib retracement. Expect reversal at 1260 level to retest the previous highs. This time gold may visit 1380 level prior going down again.

fhsk2001

We are in the lower part of the Keltner channel (mul2) in 1 day chart, which is indication for further downside. Maximal reversal at this level is the middle of the channel - 1316. The current lowest part of the channel is 1288, but will go down on future.