XAUUSD Double Top Sell Signal

Gold (XAUUSD) is failing to break early into today's E.U. session above Friday's High, and that is so far a Double Top. If it holds, it will be a technical rejection sell signal and based on the similarities with the September 01 peak fractal (+3.65% rise, identical 4H RSI patterns), it can complete a drop even a little under the 0.236 Fibonacci retracement level.

With the 1D MA50 (red trend-line) involved this time as the long-term Support and the 4H MA50 (blue) and 4H MA200 (orange) each offering its part as Supports the past 10 days, we will put our target a little higher at 1950.

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