Likely Gold Bullish Move
Fundamentals are saying Gold futures are inching down (retracing) because it has been a bullish trend for quite some time it was long overdue for some substantive retracement/correction. They followed it up by saying economic uncertainty is likely to create pressure.
Technicals show prices ranging inside of a channel and the middle of the channel acting as support/resistance.
If I see a break above the resistance at the middle of the channel by May 9 @ 9:00AM its likely we will have a retracement and push up to the top of the channel. Which coincides with 50%-61.8% Fib levels.
Technicals show prices ranging inside of a channel and the middle of the channel acting as support/resistance.
If I see a break above the resistance at the middle of the channel by May 9 @ 9:00AM its likely we will have a retracement and push up to the top of the channel. Which coincides with 50%-61.8% Fib levels.