Gold Analysis for a potential kill or cure!
Series of Highs and Lows - going with the grain of touches and retracements.
Key Levels to note - check FIB 1263.66 - 61% has had three chances of a break and body close above key point.
Has NOT been strong enough to close as you can see from the 3 attempted wicks over last 7 days of price action.
The Break of Parallel Wedge in past 2 days of PA has taken it to respect 1250 per Oz as key level of support to be challenged.
My personal opinion for Gold is either a long bias to 1275 and a FIB break of 1254
Or a short bias and another shoulder forming another shoulder and a look toward 1230.
No Action taken yet.
Key Levels to note - check FIB 1263.66 - 61% has had three chances of a break and body close above key point.
Has NOT been strong enough to close as you can see from the 3 attempted wicks over last 7 days of price action.
The Break of Parallel Wedge in past 2 days of PA has taken it to respect 1250 per Oz as key level of support to be challenged.
My personal opinion for Gold is either a long bias to 1275 and a FIB break of 1254
Or a short bias and another shoulder forming another shoulder and a look toward 1230.
No Action taken yet.
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