62% Fibonacci Retracement In Play For GOLDAt press time, it looks like US equities are in for a strong open. For GOLD, that means prices are bearing down on a key technical area:
Daily 62% Fibonacci Retracement, 1951.66
Here's the trade:
1) Buy 1952.50
2) Stop Loss @ 1948.25
3) 1:2 Profit Target, 1961.00
Ideal timing for this GOLD long is just ahead of today's Wall Street close.
