Gold: another slowdown, not a reversal. Part 2.
Now, one thing is a concern for me here: price breaks trendline and it also breaks the resistance line. We only had a similar incident in Mar 2014 and that resulted in a continuation of a downtrend.
An uptrend (as well as a downtrend) only exists when it can be clearly marked with a trendline. As of now, it is simply impossible to draw any reasonable trendline that supports long positions. While I am not saying the price of gold cannot appreciate further, I'm still looking to short gold somewhere near these levels.
An uptrend (as well as a downtrend) only exists when it can be clearly marked with a trendline. As of now, it is simply impossible to draw any reasonable trendline that supports long positions. While I am not saying the price of gold cannot appreciate further, I'm still looking to short gold somewhere near these levels.
Related publications
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.