Last week I shared that “Fibonacci Extension/Expansion resistance” levels for Gold come into play around the $1,900 level (see post here)
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This target was created by using Fibonacci Price extensions for the 1980 high and 2001 low. We are along the metal and as I shared last week and will look into harvesting some postions if Gold hits rising channel line (3) at the key Fibonacci level.
If gold does spike up there, it might pay to see where the S&P 500 is at that time…as it could be a time to pick up some cheap stocks at Gold resistance!