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A Curious Development With Gold

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Source: What Is That Whistling Sound

Something we monitor in the gold market is Fibonacci retracements at various levels.

One curious development a few days ago showed gold exactly touching the second fib fan level at $1201.50 in oversold conditions.

Non-farm payrolls data comes in Friday morning, and a Federal Reserve announcement is due mid month.

Let’s see how this plays out.  Our suspicion is that gold is only taking a short break from its big up move and is winding up again.  Will it get the catalyst it needs?


Source: http://whatisthatwhistlingsound.blogspot.com/2016/06/a-curious-development-with-gold.html


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