Back on August 15, we noted that gold was nearing an important downside target. From Charts I’m Watching: Aug 15, 2018:
[Gold] has reached triple support –the .618, yellow TL off the 2011 highs, and the red TL from 2010. We’ve targeted 1173.60 since the yellow TL broke down in May and gray channel broke down in June. I strongly suspect it will bounce here.
As it threatens a breakout, we’ll take a fresh look at the road ahead.
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