short to 1116 spot and then buy for 1200-1240

Dec 23, 2016

I think gold needs to touch big 78.6% before a sustained move higher. I see a BUY between 1112-1117 spot for higher prices into 2017, how high no one knows...I like to see one move at a time. A weekly close below the 78.6% fib of years move up at 1116 spot I will post short setups. But I think until there is a close below that point we give the bulls a chance for higher prices...up to 1200 makes sense.