Gold broke mid term trendline, at upside of a bearish pennant
XAUUSD broke the mid term bullish trendline and now looks like its ready to move lower, continuing a bearish pennant formation.
The Commitment of Traders report shows an extreme high (> 90%) for the last 2 weeks and is on a down slope. Additionally last 6-12 months US fundamentals are strong and could add to the downside.
But remember, its just probabilities, nothing is certain. We need to stay flexible!
The Commitment of Traders report shows an extreme high (> 90%) for the last 2 weeks and is on a down slope. Additionally last 6-12 months US fundamentals are strong and could add to the downside.
But remember, its just probabilities, nothing is certain. We need to stay flexible!
