SHORT on 30 Mins
Gold is suppressed by the down-trend line. Unfortunately, gold will complete a head and shoulders term pattern.That should confirm completion of rise from 1302.70. Further decline should be seen to 78.6% retracement of 1302.70 to 1346.85 at 1312-1314 next. On the upside, though, break of 1332 will turn focus back to 1341 resistance instead.
The target is 1314.
Turning point: 1.332.
Under 1332, bearish , target price is set at 1321, then 1314.
Above 1332, bullish , target price is 1336,then 1341.
Even if we can't rule out the possibility of continuous adjustment, its time should be limited.
The target is 1314.
Turning point: 1.332.
Under 1332, bearish , target price is set at 1321, then 1314.
Above 1332, bullish , target price is 1336,then 1341.
Even if we can't rule out the possibility of continuous adjustment, its time should be limited.
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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.