The shiny metal has simply made the first level of a Fibonacci retracement for the last upside wave it made, adjusting indicators from a very overbought area to a neutral, and what it has to do now is to consolidate above 890 for a while gathering some momentum and preparing for a new wave that will breach the 935 and 950$ per ounce levels.

The trading range is among the key support level at 891.00 and the key resistance level at 935.00.

The general trend is to the upside as far as 810.00 remains intact; targets are set at 1080.00 and 1170.00.

Join the Discussion
  • Kilauea Lava Flow Increasing

    When the flowing lava meets ocean water, it creates a plume containing fine volcanic particles and hydrochloric acid that can irritate the skin, eyes and lungs.