XAUUSD: Triangle
Aggiornato
the gold has been in the triangle for a while. As the Brexit went unsmoothly, the gold is being supported well by 1480.
In short term, as the uncertainty of Brexit rising up, gold price is likely to spike up test 1500, which is the 51.6% Fibo retracement from recent fall 1517 to 1473
1500 would be essential. If 1500 rejected successfully, then it would be a bearish signal. Otherwise, a new spike will begin.
short term bias for me is bearish. Because uptrend from 1270 has been broken.
In short term, as the uncertainty of Brexit rising up, gold price is likely to spike up test 1500, which is the 51.6% Fibo retracement from recent fall 1517 to 1473
1500 would be essential. If 1500 rejected successfully, then it would be a bearish signal. Otherwise, a new spike will begin.
short term bias for me is bearish. Because uptrend from 1270 has been broken.
Nota
Correct: 61.8% Fibo retrace
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