Good news for those who bought GOLD as their investment. Gold price continue its uptrend until now, hit USD1504 per oz just now and it is currently traded at USD1497.80.
Yesterday, I thought that gold price will retrace or reverse when it hit USD1500 because 1500 is a major psychological price in trading.. but seem that bull is not yet tired.
Below is the chart. I put the fibonacci on the chart… retracement at 62% (green box).. and if gold price is following the fibo rule, then the new high should be at 162% fibonacci level (USD1530).
Emmm.. let see how the daily candle will close today. If there is a sign of reversal candle, we may see a downfall, otherwise the next fibo level will be tested.
Frankly speaking, I don’t like a higher gold price. Nanti penagih dadah geram tengok gelang-gelang makcik!!