Gold Monthly...50% retracement of major geometric range of 300 to 1800 @1050. The 50% is Major Mojo in Gann Land. Price settled just above the 50% of the range 1050 to1425.00. This is the quarter point of the upper half of the 300 to 1800 range. The 50% of the upper half of the range is 142.50 and the beginning of the down sloping "flag" pattern down to 1050.
Price came up and retested the break of the uptrend line. Usually a good spot to watch for price to either bounce off of the tested line and resume the direction of the break...in this case...back down. However, if price manages to climb back on top of the trend line then price will continue up, in this instance.
