XAUUSD Double Top on the Falling Resistance
Gold / XAUUSD has again failed to cross above the Falling Resistance of the long term bearish trend.
In fact today's failure, if remains, it will be a technical Double Top formation, a very bearish pattern.
Sell if it stays intact until closing and target 1900 (4hour MA200) and 1875 (Fibonacci 0.5 level).
The 4hour RSI also shows that we have a rounded top like August but if it hits the 30.00 level before any of the targets, take profit regardless of the price.
Previous chart:
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In fact today's failure, if remains, it will be a technical Double Top formation, a very bearish pattern.
Sell if it stays intact until closing and target 1900 (4hour MA200) and 1875 (Fibonacci 0.5 level).
The 4hour RSI also shows that we have a rounded top like August but if it hits the 30.00 level before any of the targets, take profit regardless of the price.
Previous chart:
Follow us, like the idea and leave a comment below!!
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