XAU US$ gold - yesterday my thoughts were it heads to the bottom of the channel targeting the 1306 area. but what happened overnight was that it broke up and out of the channel. so the alternative view is that it had 3 tries to go down but the bears failed now we go higher. on the 30 minute chart XAU USD has broken out of the cloud and if I use the fib ext to project upwards, the 6.85 extension target lands at the $1404 area. if this alternate path is taken then being a 30 minute chart we will get to the $1404 target in absolutely quick time. stay alert ....... blink and the next thing you know Gold turns $1400.
