Golden Arches formed but NOT in tact as price is above 200MA
M Formation has formed on Gold.
However, there is a BIG support with the neckline and the major 200MA.
As long as price stays above, this analysis will e wrong.
So this is a hesitant analysis to present, but one which is showing strong bearish momentum to come based on history rather than present and future.
Price >200 - needs to break below
RSI<50 turn up
Target will be to $1,710 if the price breaks below the Neckline and 200MA.
What do you think?
However, there is a BIG support with the neckline and the major 200MA.
As long as price stays above, this analysis will e wrong.
So this is a hesitant analysis to present, but one which is showing strong bearish momentum to come based on history rather than present and future.
Price >200 - needs to break below
RSI<50 turn up
Target will be to $1,710 if the price breaks below the Neckline and 200MA.
What do you think?
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Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
www.facebook.com/groups/matitrader
🌐Website:
www.timonandmati.com
💰FREE Discord:
discord.gg/c8f37kyv35
Twitter:
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)