MaryJane

Gold at trading mark again

COMEX:GC1!   GOLD FUTURES
65 0 14
Double Bottom or new selling Signal?
XAU is near it s former low at 1.071$ .
With Prices below that Level, the downtrend will perhaps tighten with the tp, mentioneds in my former Analysis (TP from the flag) at 1.035$.
Could the Level at 1.070$ be defendet, xau has the Chance to develop a double bottom . Fiorst target (minimal target) of that Formation would be the 38,2 fibo at 1.116$

former anaylsis:
https://www.tradingview.com/chart/GC1%21/Oj4STuJT-GOLD-at-Trading-Mark/
snapshot
Will XAU break it s resistance ?
The resistance Zone is characterized through the sma200 and the old supporting trendline which turned into resistance.
If xau can trade above this Level @ 1175 the next tp can be 1210$.
If the resistance could not beaten, a new downswing can be exspected. The tp of this downswing could be 1125
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