XAUUSD has surprised us since 13th Dec after finishing a five-wave trend down to round 1237(fibo 1.27 ). It rise $50 since then.
Here you can see two red channel sharing the same support line, use this support line to find out two possible reflection point on each channel. Meaning 1288 is one possible price for gold to correct, the other one is 1301. 1301 could be touched after a correction from 1288.
All analysis need trading signal to confirm and always 50% to win. This chart is not a signal to trade here.
Less is more! Happy New Year!
Komen
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Gold is getting close to the higher reflection point.
Pretty close to what I have. Should test $1300 by 12/31 with a quick slide to $1270-80 lasting for maybe a day or two and onward to new cyclical highs (over $1375) by February 2018..
Trader500Trader
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Thank you for the nice chart Vera, i will follow you on this one! pls keep us updated