Gold met first downtrend wave target with chance for more drop

Gold met first downtrend wave target with chance for more drop

Rami
30 (10) 2016 - 22:08 (GMT)
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The Precious Metal managed to head for rebound correction from support zone (1250) after met first target for the downtrend wave over Short-Run as previous report advised (see here) while managed last Friday to head for rebound correction target after the FBI Reopening Clinton E-mail Probe which caused the odd for Fed Hike this year to drop below 70% chance.

Short-Run seeing resistance zone at (1284-89) which may drive for second drop wave toward second target (1200-10).

Short-Run see the main resistance zone for this scenario laying at (1305-10) zone, where as long as market holding below this zone the downtrend wave will sustain.

Above (1310) more advance will be expected where market may head to re-test old resistance (1325-30) before resume more advance.

 

 

GOLD

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Rami

Rami

Hi all, my name is Rami, with more than 16 years experience in Forex Market, switching from Brokerage field to Fund Management and Risk Management specialty.I had an idea to establish a Home Page to present my thoughts on Forex Market from three different angle or prospective, Mid-Run, Short-Run & Intraday movements .

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