Descending pattern , this is a short from me
SELL XAU USD I SEE A 1500-1490 Drop will re trouch rsisatant and either break or boune off it THE 2 GREEN DOTS SHOW THE POTIENTAL RIE TO GET IN FOR SELL , GREEN CIRCLE ON IS OW OS TP Any Questions Just ask
GOLD HAS HAD A GOOD RISE TODAY THE RESISTANCE LEVEL WAS BROKEN AND HAS CONTINUED THE RISE AS SHOWN FROM LEVEL 130.934 TO 135.098 THERE HAS BEEN A PULL BACK THEN RISE PULL BACK THE N RISE BOTH TOUCHING THE SUPPORT LINE SHOWN ON UPTREND THE THIRD PULLBACK DIDNT TOUCH WHICH I THINK MEANS THIS WILL BREAK OUT AND CONTINUE A NEW RISE WAITING TO CATCH ON A PULL BACK...
Gold Bulls are finding it hard to push pst 1505 (BLUE LITTLE LINE ON CHART SHOWS WHERE TESTED THIS THEORY AND IT HAS GONE DOWN FROM 1505 3 TIMES 2 ARE MARKED) with the support level being at 1496 i believe we will go to this level again to retest with then breaking the support level and potentially dropping to 1480 zone
BEARS WILL TAKE CONTROL I HAVE TWO ENTRYS AT 1503, 1502 I BELIEVE GOLD HAS THE POTENTIAL AFTER 3 LOWEST HIGHS WEEKS TO CONTINUE THE DROP ALL THE WAY TO 1480 MAYBE EVEN LOWER