Is the bullrun over?

OVerall gold is bullish. But after tapping 2007-2008 gold fell and broke the support side off the strong bullish channel. At the moment looks like gold is forming a head and shoulder pattern and also divergence is forming.Wich can indicate a bearish correction. It all depends on if around 1992-1994 resistance holds. If the right shoulder breaks. We need to stop selling the market. THere is a posibility gold want to retest the previous broken channel. Mostlikely it will. Price action will tell us more.

Resistance: 1992, 2009, 2022
Support: 1976, 1964, 1953

Note

Gold currently testing the right shoulder again. As long as the shoulder holds we should all sell the market for targets 1980, 1963, 1953

If a confirmed break off the right shoulder then sellers are screwed...

Keep in mind in a couple hours we have NFP. WIch can change to whole gameplan

ForexGoldIntraday

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