Gold Prices Hold Fibonacci Support, but for How Long?

Talking Points:

– Gold prices have continued to gyrate within a downward-sloping channel after setting a fresh yearly-high in late-January. Support thus far has held above $1,300; but short-term charts show a continued response from sellers, pointing to the possibility of near-term down-side before the longer-term bullish trend might be ready for resumption.

– The next two weeks bring a heightened focus around the US Dollar, and Gold as the ‘Anti-Dollar’ will likely be along for the ride. Tomorrow brings US CPI, and next week brings a Federal Reserve rate decision, currently carrying an 89% probability of a hike.

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Gold Prices Gyrate After Rallying-Up to Fresh Yearly Highs

Gold prices were on a tear as we came into 2018, extending the rally that had started in mid-December to go along with another bearish kick to the US

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