Gold forming a strong cup and handle reversal, watch for the dro
Gold has formed a really strong cup and handle reversal with our 1st resistance at 1344 (Fibonacci retracement, horizontal overlap resistance) and a strong reversal could occur at this level to push price down to at least 1325 support (Fibonacci retracement, horizontal overlap support, Fibonacci extension).
RSI (55) has made a bearish exit signaling that further bearish action could be expected.
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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.