GOLD: A DOUBLE TOP FORMATION, MIGHT END THE BULLISH TREND
We have two fail attempts of the prices to break the 1740.00 which lead to a double top formation that have a nick-line at 1678.6 the break of that nick-line will lead to a bearish correction that might turn to a bearish trend. We also have a broken bullish trend line that support our bearish view for Gold.
Personally I will enter a sell after breaking and retesting of the nick-line. I might even go further and wait for a close below the 1643.10 as entering a sell on gold in these situations might be risky so I will wait for much as I can before shorting Gold.
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Personally I will enter a sell after breaking and retesting of the nick-line. I might even go further and wait for a close below the 1643.10 as entering a sell on gold in these situations might be risky so I will wait for much as I can before shorting Gold.
If you find this analysis useful please don't forget to hit the like button, leave a comment and follow me for more useful content.