Gold Has Closed Back Below 1275 Level

Now that gold has closed back below 1275 level, i am going to say we are about to get a second bloodbath phase and that is likely to reach the 50% Fib retracement and do it pretty quickly, in like the next 5-7 trading days.

I didn't want to see 1275 break. It took a lot of work to get through that level. Now that gold has closed back below that support i am going to say we are about to get a second bloodbath phase and that is likely to reach the 50% Fib retracement and do it pretty quickly, in like the next 5-7 trading days. 

(Click on image to enlarge)

 

cotd

 

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