GOLD Supported at the Deep Retracement Fib

2 min read
Nenad Kerkez

Nenad Kerkez

Head of Trading

Dear Traders,

The Gold has been retracing but the price came close to 88.6 fib and bounced back. We might see uptrend continuation.

88.6 is IMO the strongest fibonacci level. We could see another bounce if the price gets there. However a close above 1936 on H1 chart will imply price to go further up. In addition, we can also see the confluence of D L4 and W L3. The first target is 1950 followed by 1965. As long as 1900 holds we won’t see sellers taking over. Buying the dip continues.

The analysis has been done with the CAMMACD system.
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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

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