Loading ...Bank on Gold Reaching 2671.00
Here is the current gold chart with its Gartley extensions. We will see the 100% line of this chart reached which is 2671.60 and there is very little doubt we go there as the math supports this move. There is however a nearby resistance line barrier to upward momentum that will slow the move to target so expect a reversal shortly before the target is fully achieved.
“There is however a nearby resistance line barrier to upward momentum that will slow the move to target so expect a reversal shortly”……..well that was quite fast. Even faster than I imagined. The resistance line was clear as day but the suddenness of the reversal took me by surprise in spite of my forecast. Gold is getting feisty. But don’t be put off by the pullback. I can almost warranty price will still hit the 2671.00 line. This pullback in progress is merely corrective.