Gold Bullish Pennant Failure?
Updated
Gold has been on a beautiful rally since early march. Between recession scares and bank crisis this added more fuel to the rocket! All eyes and ears have been on Gold will it break through previous ATH ? Since the rally a bullish Pennant has formed we did have a slight break out at 1980 than restested to tap 2050 zone only to reject again back to breakout area. now 2030 zone is interesting as we formed a double top on daily TF which could signal a reversal or change of trend. So if this Pennant fails to the downside no doubt in my mind we could see a possible liquidity grab on buyers to 1910/188x's. Before gold goes for another rally up! As always price action is key as well as risk managment! good luck and happy trading!
Note
Forgot to mention overall trend for gold still is bullish monthly and weekly candle still bullish with slight bearish push on weekly candle.. current daily candle tides may be changing in favor of bears but overall bulls have been in control always follow market trend and take caution on counter trend postion moves!
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