Gold continuing to consolidate in a large symmetrical triangle pattern. Worth noting that the MFI points to bearish divergence. The key level is 1945 with PA below it re-targeting lower diagonal support near 1920. The breakout levels for either side is marked on the chart.
Kommentera:
Price action starting to look very bearish
Kommentera:
Seems my previous update was well timed as we ended up seeing a decent sell-off with the rising wedge broken to the downside. From a fundamental standpoint Gold should recover from here but keep watching those technical levels.
Kommentera:
Note that there is still technical downside to at least 1925