Clear view of Golds direction for the next few weeks

The 2W,W,3D,2D and D are divergent towards a bearish bias, however the 3W and M are bullish . Using simple trend lines and fib retracement you can see where this will be going for the next few weeks. From what I can see on the Weekly timeframe this should reverse at the .618 indicated on the chart.

Trade geschlossen: Stop wurde erreicht:

Target is still around the 1220 area and it is still bearish, however it did not go down as expected and decided to test the weekly highs before moving down again. Still bearish.