Happy New year and a prosperous 2018 to all.
Gold has been a tough nugget so far for 2017 and has held 1240-1220 price zone.
Where does gold go from here... So far from the 1046 low as follows:
A=1046,B=1375,C=1122, THEREFORE D= 1455(100%)/1545(127%) & 1661(162%) all these are possible price zones where AB=CD.
FROM 1122(B), There is the potential of 1122-1295-1205= 1378(100%)/1424(127%)/1483(162%) where ab=cd or
1122-1357-1237= 1472(100%)/1537(127%)/1619(162%)... ab=cd.
Price is currently at 1300's and it has the potential of breaking out above 1357...price zone 1375-1400/1425/1480-1545 price zone.
Short term there is resistance at 1325-1340/ 1350-1365, support= 1300-1285/ 1260-1240.
break below 1240-1220...price zone 1180-1160 probable .
Gold has been a tough nugget so far for 2017 and has held 1240-1220 price zone.
Where does gold go from here... So far from the 1046 low as follows:
A=1046,B=1375,C=1122, THEREFORE D= 1455(100%)/1545(127%) & 1661(162%) all these are possible price zones where AB=CD.
FROM 1122(B), There is the potential of 1122-1295-1205= 1378(100%)/1424(127%)/1483(162%) where ab=cd or
1122-1357-1237= 1472(100%)/1537(127%)/1619(162%)... ab=cd.
Price is currently at 1300's and it has the potential of breaking out above 1357...price zone 1375-1400/1425/1480-1545 price zone.
Short term there is resistance at 1325-1340/ 1350-1365, support= 1300-1285/ 1260-1240.
break below 1240-1220...price zone 1180-1160 probable .
