GOLD May Face Resistance At 1240-1255

Gold moved to a new swing high after very bad NFP figures on Friday, so metal is already in wave c) now, final leg of a zigzag from 1142 low. As such, upside can be limited as corrective rally can be in final stages. We however see Fibonacci resistance area at 1240/1255 from where new bearish impulse can show up

GOLD 4h Elliott Wave Analysis

Written by www.ew-forecast.com

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