20 Aug short
- bearish on weekly view
- forming double top on daily view
however -- might not be a deep dip rather just a take profit correction -
fundamental makes it likely that investors have no where else to go but equity and gold so the sell-off wont be sharp --> i doubt a sharp rise - everything already overbought unless a shifting fundamental is to come, pushing gold deeper into the overbought region
Indicators
- bearish on monthly view, weekly AND daily
Next short target region as charted.
- bearish on weekly view
- forming double top on daily view
however -- might not be a deep dip rather just a take profit correction -
fundamental makes it likely that investors have no where else to go but equity and gold so the sell-off wont be sharp --> i doubt a sharp rise - everything already overbought unless a shifting fundamental is to come, pushing gold deeper into the overbought region
Indicators
- bearish on monthly view, weekly AND daily
Next short target region as charted.
Note
Confirmation if breaks upward trendline - which has not been preached since rise from the March low
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.