Gold has been consolidating in a range since February.
It has broken multiple levels of support . Yesterdays Iran news pushed it up to 1320 . So support became resistance. It could not hold this level so I will look for a larger move down with a stop above the previous high at 1321.
Short at top of descending channel
Take profit at Fibonacci levels 0.5 about 1300 0.382 and 0.236
It has broken multiple levels of support . Yesterdays Iran news pushed it up to 1320 . So support became resistance. It could not hold this level so I will look for a larger move down with a stop above the previous high at 1321.
Short at top of descending channel
Take profit at Fibonacci levels 0.5 about 1300 0.382 and 0.236