Possible Targets for a Gold Breakout

2020년 9월 16일

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.

2020년 9월 16일

노트

Price action starting to look very bearish

2020년 9월 17일

노트

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.

2020년 9월 17일

노트

Note that there is still technical downside to at least 1925