Trading near resistance with volume fraction and RSI breakout, entry:295, SL:268, target:344
A better entry is on the way next week for gold, with multiple reasons for price to be supported at 1900/oz.
Looks like a possible descending triangle pattern. If that is validated, then gold may still be in correction.
ABX is on a multi year bullish flag, and possibly forming a multi month reverse H&S (speculative). After hitting te 0.618 fib retracement from this years' highs and coming down, if the multi year support trend line holds (~0.236 fib retracement), it could form the reverse H&S and end the year breaking out of the multi year downtrend resistance line, meeting around...
Gold may be headed towards a short term reversal, based on the rejected resistance, broken trend line and decreasing volume. If setup is correct, it would make a very good buying opportunity after finding its support and wouldn't discard the possibility of even new highs.
the long term downtrend line from 2011-2013 is holding up
a couple of resistance at $1250 and then $1263. hopefully, we will get through with all the volatility in USD and market nervousness