Gold continuing to consolidate in a large symmetrical triangle pattern. Worth noting that the MFI points to bearish divergence. The key level is 1945 with PA below it re-targeting lower diagonal support near 1920. The breakout levels for either side is marked on the chart.
Commentaire:
Price action starting to look very bearish
Commentaire:
Seems my previous update was well timed as we ended up seeing a decent sell-off with the rising wedge broken to the downside. From a fundamental standpoint Gold should recover from here but keep watching those technical levels.
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Note that there is still technical downside to at least 1925