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GOLD - Bears May Extend Below $1260 Target Before Correction On Oversold Daily Studies

Discussion in 'Technical Analysis' started by Kaitlin, Oct 6, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    Gold trades in a narrow near-term consolidation above fresh low at $1261, posted on Wednesday, with firm bearish sentiment keeping focus at the downside. The yellow metal rides on extended wave C from $1343 that came tick ahead of its $1260 target (FE 176.4%) and could extend towards $1249 (FE 200%).[​IMG]

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