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Gold Spot / U.S. Dollar
Short

GOLD: Exhausted Market and Bearish Continuation

By VasilyTrader
snapshot

On a daily timeframe, we see a very strong rejection of 1440 level.
after two attempts to break and close above this level, we see a formation of a double top pattern
in conjunction with RSI Overbought + Divergence and dodji + rejection bars.

the last resort for bulls is 1380 support,
if bears break and close below this level, most likely gold will start deeper correction and we will see
bearish continuation to lower support levels.

Key support levels on focus:

1360
1340


Chart PatternsCommoditiesETFFREEfuturesGoldindexesTechnical IndicatorsMetalsoptionsTechnical AnalysisTrend Analysis
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