Or, is gold forming a cup and handle?
Noticeably there's a head and shoulders pattern breaking to the downside that coincided with a double top on a micro time frame.
Gold is currently trading below the 200DMA which is inherently bearish for the commodity. If gold bounces meaningfully with sustainable upward price movement off the 200DMA go long, if we see continued bearish momentum below the 200DMA go short to stay short.
Price target $800.00 USD in the next 5 years to decade.
Noticeably there's a head and shoulders pattern breaking to the downside that coincided with a double top on a micro time frame.
Gold is currently trading below the 200DMA which is inherently bearish for the commodity. If gold bounces meaningfully with sustainable upward price movement off the 200DMA go long, if we see continued bearish momentum below the 200DMA go short to stay short.
Price target $800.00 USD in the next 5 years to decade.
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Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.