Oktam

Oktam

Gold could top out at its former top, forming a double one and drop down to 1680. Supported by MACD and RSI on the 1H chart. It also seems to be the top of the current rising channel. We can open a short position now and set a stop loss at 1750.

Oktam

As the overall bias on gold is bullish currently, I'd expect a push to 1750 in the case of an upwards triangle breakout. In case of a downwards breakout, a revisit of the 1650 level is possible and will provide a good re-entry point for long positions.

Oktam Updated 

I've sold at $17.76 and I'm expecting a retest of the $16 support, or if it breaks then aiming for the $14.3 support.

Oktam Updated 

We can expect an upward movement to $18-$21 if the $16.20 triangle resistance line breaks.

Oktam Updated 

We can see 5 Fibonacci rejections at 50%, also supported by the current uptrend line.

Oktam Updated 

Descending triangle on 15M chart. More likely break upward, but either way a big move in the price is expected. Opinions?