Since 2013 the 23,60% all time Fibonacci level has been the most important support, resistance, retracement level and the most targeted value on both bullish and bearish trend;
As you can see on the chart everytime the price of gold was entering 1300-1350 area, the 23,60% Fibonacci level at 1251-1257 was retested and I believe this is not going to end today, there might be a retest of that area starting on next week all the way down to 1250.
On top of that we have also an huge HANGING MAN CANDLE coming from the huge volatily of yesterday trading caused by USD news which dont look bad at all;
The hanging man candle which a reversal when in updtrend, so WAIT FOR CONFIRMATION and if next candle will be a big red bearish candle that drop maybe just about to start.
As you can see on the chart everytime the price of gold was entering 1300-1350 area, the 23,60% Fibonacci level at 1251-1257 was retested and I believe this is not going to end today, there might be a retest of that area starting on next week all the way down to 1250.
On top of that we have also an huge HANGING MAN CANDLE coming from the huge volatily of yesterday trading caused by USD news which dont look bad at all;
The hanging man candle which a reversal when in updtrend, so WAIT FOR CONFIRMATION and if next candle will be a big red bearish candle that drop maybe just about to start.
