GOLD has tested 1260 zone and has not been able to breach below and currently on the upside.
Double bottom from was probable, however caution required between 1260-1305 consolidation.
In my previous post the outlook is still in play:
XA= 1261-1305, B= 1280, C= 1285, D= 1248(127%*XA)/1233(162%*XA)
The B leg was a little premature at 1280 however B = 1263(Dbottom) and C= 1285(ab=cd 1287), C can also extend to 1292-1296, breakout above 1305 will invalidate the downside.
Break below 1260 then D= 1248(127%*XA)/1233(162%*XA)
Break below 1235-1225= 1205/ 1175/1122
Breakout above 1305
upside resistance= 1280-1305/ 1310-1325/1335-1350
breakout above 1357= 1375-1425.
Double bottom from was probable, however caution required between 1260-1305 consolidation.
In my previous post the outlook is still in play:
XA= 1261-1305, B= 1280, C= 1285, D= 1248(127%*XA)/1233(162%*XA)
The B leg was a little premature at 1280 however B = 1263(Dbottom) and C= 1285(ab=cd 1287), C can also extend to 1292-1296, breakout above 1305 will invalidate the downside.
Break below 1260 then D= 1248(127%*XA)/1233(162%*XA)
Break below 1235-1225= 1205/ 1175/1122
Breakout above 1305
upside resistance= 1280-1305/ 1310-1325/1335-1350
breakout above 1357= 1375-1425.
