Commodity Trade Mantra

Posts Tagged ‘Fibonacci Retracement Level’

Coming Week Breakout Most Important to Confirm a Gold Bull Market

$1291 is both a key Fibonacci retracement level for gold’s secular uptrend (from 2001 till 2011) & the resistance line of the bear market. This is the third attempt for gold to break out of its downtrend. As a rule, the third attempt is mostly a decisive one, which is why we believe a breakout in the coming week will be THE most important one to confirm a bull market in gold.

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