After the strong reversal from 1620, the break above 3 important levels of resistance, and a high at the 1780 zone, Gold continued to trade upwards making another 2 higher highs. However, these highs are marginal, and for a month now, Gold is contained in a rising wedge pattern. Although the pattern is not confirmed yet (it needs a break under rising trend line support) the price action is a suggestion that a reversal could follow. Selling rallies could be s good strategy with a target at 1760, followed by 1720 in case of a deeper correction.
Informationen och publikationerna är inte avsedda att vara, och utgör inte heller finansiella, investerings-, handels- eller andra typer av råd eller rekommendationer som tillhandahålls eller stöds av TradingView. Läs mer i Användarvillkoren.