Gold, the day after!
After amaizing Friday, what do we have on gold today? We can see that, there is no sharp decline back like last week and gold is preaty calm, despite the USD/JPY return. After Asian opening last night, gold was suported at 1182 level, the upper line of the 23.6 fibo return from the July 10. –> November 07. return. but on the way up, gold was hold at 1293, the 50.0 fibo return of the October 21. –> November 07. fall. That level holding gold on the way up for hole day, even gold is looking slightly bullish and try to consolidate after Fridays rocket. Like I pointed on my previous gold analysis, on my oppinion levels above the 1180 should be bulls territory and it would be very interested to see how would bears react now, after ‘Friday surprise’ for them, that’s for sure. Could gold continue to rise to the next stronger resitance at 1208/10 this week? What do you think?