Violence within a Range . . . Break of Consolidation Upcoming

٤ مايو

Gold, Intraday -36 Min - Indicators with Fibs Overlay: Yes I'm bearish but there was some bullish price action at the end of the day. Notice that dip into lows . . . and then the subsequent rebound on the 36 minute chart that set the stage for a nice rally at the end of the day. . . That is an issue that we will need to work through in the early part of the week. Of course the market would close right at the 61.8% line that in challenged twice . . . If it breaks the short, we can see gold go back to the top of the range. 18-25 isn't out of the question and it would be a gift of a short . . . If this short holds here at the 03 level, it's third test here, then assume the 2267 target still stands . . . that is a $33 dollar drop from where we are currently . . . That is massive upside. . . especially if short stops can be kept to 3-5 dollar range.