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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