Saturday, November 22, 2014 8:58:52 PM
Friday we seen a quick drop in gold intraday when 50MA touched right at 1207, which also happens to be Fib 61.8% retrace (1207). Since Fib and 50MA were the same pivot, quick intraday sell off was expected.
With the candle setup and chart data, I'm expecting Gold to hit 1230 by Wednesday or sooner. (markets closed Thur) and I expect Gold to start selling on Friday (1/2 day for markets) ahead of the Sunday Swiss vote. Who would want to be caught on the long side Monday morning if the vote is no, not me ;)
Note: Fib 78.6% retrace is around 1225, +/- margin of error; Target 1230
Opinion only!
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