Gold Weekly Technical Report 8/2/2016
ecPulse
2016-02-08 11:47AM UTC
Gold shows some kind of corrective actions following the sharp inclines seen last week, which took the metal towards 1175.00 where 88.6% Fibonacci exists.
We can’t confirm extending the bearish correction due to stability above 1160.00 –Fibonacci of 78.6%- and thus, we will be neutral, as ADX remains positive and also moving averages didn’t show reversal signal.
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