-
Gold’s Critical Juncture: Bullish Breakout or Bearish Retreat Ahead?
video Gold trades inside day on Wednesday, as it holds above Tuesday’s low and the retracement low at 2,010. That low completed a 61.8% Fibonacci retracement, and it matches a prior key swing high. Two indicators identifying the same price area and the subsequent rejection of price indicate that a retracement low may be in. If so, then a rise above today’s high of 2,036 will trigger a bullish inside day breakout. Whether gold continues higher from there or bounces and then turns back down, remains to be seen. First, an upside breakout is needed as a sign of strength. chart Upon a bullish signal gold heads up ... (full story)