December 8, 2016

GOLD Pausing at Golden Ratio

  • Weekly chart shows price pausing at golden ratio. Weekly candles did violate this level But Gold bears are unable to close the week below this level.
  • for gold bulls 50 Period SMA of 4 hour time frame is acting as stiff resistance.
  • So crucial levels on closing basis are 1180 and 1160. violating these levels again on CLOSING basis may trigger a bigger directional move.

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