Gold/Silver corrects down 11% before resuming uptrend.
I believe gold/silver corrects down about 10.90% before resuming uptrend. Using XAU to track the PM sector.
As you can see, XAU has hit some resistance at the highlighted fib ring and looks to correct down to the starred area. There is quite a bit of confluence there technically speaking and fundamentally as well with that point in time being one week after the Fed FOMC meeting. I believe it finds support there before resuming the uptrend.
As you can see, XAU has hit some resistance at the highlighted fib ring and looks to correct down to the starred area. There is quite a bit of confluence there technically speaking and fundamentally as well with that point in time being one week after the Fed FOMC meeting. I believe it finds support there before resuming the uptrend.