GOLD: Opportunity for bears to add to shorts by Reece Marini

GOLD H4

G4

The 1:1 (Blue) and 38.2 fib at 1204.75 has attracted some decent selling interest ahead of the US PPI m/m, the 1204.75 level is now the level to watch during the US session. A break above this level will see some further buying take place and if this level can cap the recent run higher the best opportunities will be seen on the downside.

  • A 1:1 refers to a current correction being equal in length to a prior correction

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