The trend is simply (still) up until it isn't. The move is extended and as the price keeps climbing the risk for a sharp sell off is also increasing. But for now after a modest ~25$ correction gold quickly recovered and made a new high. The trend (since August) support is currently coming at ~758$ . From an Elliott wave perspective (according to my count and understanding )support is at 749$ & 726.5$. Trend resistance at 803$ and climbing. More resistance at round numbers, contract highs , all times highs and Fibonacci targets.
thats all for now...
GCZ7 8 hours linear chart.
2 comments:
Hello,
You have a nice blog but you should create more topics, don't you think? Anyway where is your Forex account? I used the services of Marketiva Corporation for a long time. It has nice services but I always looking for the better and better platform ;)
Mr. profit,
You can find many spot / futures brokers . all depends on your trading size. time frame and personal preferences. Personally I never heard of marketiva but I know this site with lots of brokers reviews : http://www.forexbastards.com/public/forex_broker_reviews
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