Gold is ready to the following movement

As I wrote earlier price of gold is in the extending triangle. In spite of the fact that this figure often is turning, I consider that in ours a case it is consolidation (possibly B wave in correction). If to look at the week or day schedule, then it is visible that the purposes according to Fibonacci are not executed. It is also possible to note that forming of a figure is actually ended as three tops as well below there are three minima - it quite enough are above executed. Therefore I expect, movement up at any time: or from this level, or from a bottom of a triangle (about 1805). With the termination of a figure of the extending triangle of the movement become more nervous as buyers and sellers are in confusion. Therefore in such figure often there are false breakdowns.


Information provided is only educational and should not be used to take action in the market.

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