Gold have traded off with upside channel and swirling around the outlining boundaries, and it seem like a trend reversal coming soon.
- IT'S JUST AN OPINIONS, TRADING DISCRETION IS ADVISABLE -
Double top formation at the peak, and now it seemingly gradual correction to first support level. The downtrend could further to second support level, yet we does not exclude the possibility of triple top formation and I personally think the latter will be least likely to happen as not much catalyst to lead the gold price since macros will be to policy tightening....
Gold has breakout the long term support line and is currently flirting with the line with resembling ending diagonal formation. Thus, I predict there's will be a very major bearish move going to happen for gold pair. Hence, it would be a great entry to start building your short position guys.
*** this is solely my own opinion, please don't take it as investment...
