GOLD testing resistance and Fibo 50%. Price Action analysis

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GOLD Daily Chart Fibo Price Action

GOLD H4 Chart Fibo Price ActionGold is testing resistance at 1213 which is also Fibo 50% level. It has been a really strong resistance so far and had been recently rejected three times already. Most probably Gold will be going down now until it reaches Fibo 38.2% level at 1197. So at this level we are setting up our Take Profit and Stop Loss just above the recent bullish candle on the H4 chart, which is 1219

 

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