Gold Prices on Pace for Longest Loss Streak in 6 Months
Updated
Gold prices are working on their fifth consecutive down day, which if confirmed, would make for the longest losing streak in six months. Near-term channel floor support is at 1237.72, with a break below that on a daily closing basis targeting the 38.2% Fibonacci retracement at 1205.30. Alternatively, a move back above resistance marked by the 23.6% Fib expansion at 1261.70exposes the 1294.26-1307.49 area (January 22 2015 high, 38.2% expansion).
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I'll buy the at 1204.40 wich present the 38.20 fibo SL will be below it if we close with a daily candle or 1190.75 below it
Trade active
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+ 370 pips HOLD need more pips look for 900 pipsNote
CLOSE with + 721 pips GOOOOOD ONEE
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