GOLD
Time Frame - H4
Technical analysis: The price find support around 1263 which is 61.8% Fibo support from the Jun-Sept bullish rally. Retracement channel break out and retest around 1280.
Indicators:
Demark(14)- there is solid "Covergence" with the price and the indicator shows some bulls power around.
Price is above 50 SMA - short term bullish support
Fundamental: Global risk of North Korea treat and the great decline in Turkish "Borsa Istanbul" may attract more buyers to the precious metal as a hedge trade.
Alternative: If the price moves back in the channel we may see massive bear control
Trader: Velizar Mitov
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