Day trading course – Gold on sale for a week as pressure has come off for a flight to safety.  Seems that a little pressure is taken off the markets in celebration of getting rid of one of the US’s top terrorists.  The Gold silver ratio hit 32 which is the lowest it has been in quite some time.

It seems that people sold off from over $50 and are looking to buy physical Gold at this level and waiting for  turn on Silver.

Day trading course Gold - major drop targets

Remember gold and silver markets are very volatile and can move quickly. Don’t guess the market.

Here are some levels for you.

50% retracement on this leg up, 1476.18

61% retracement 1452.47

Extreme low 1423.

Watch the 50MA at 1467. area

Yes, it could turn here at present price levels a move back to 1500 and then continuation to lower levels would not be unusual.

5 days of down market.

I am watching for tomorrow, going into the weekend could be volatile as buyers start to notice price.