Gold - Daily cycle top (Hourly chart)
Updated
Last Friday gold printed a daily cycle top and very possible this was the intermediate cycle top too.
After the daily reversal the next day price usually tags the 38.2% Fibonacci retracement. This time it 's at 2371,9.
The attack against Israel helped gold to bounce on the hourly chart to 2371 tonight.
I still think later tomorrow the decline continues and we can see lower prices.
After the daily reversal the next day price usually tags the 38.2% Fibonacci retracement. This time it 's at 2371,9.
The attack against Israel helped gold to bounce on the hourly chart to 2371 tonight.
I still think later tomorrow the decline continues and we can see lower prices.
Comment
The drop is not over yet. Gold is going lower.
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