BCMel
Short

Gold futures set for another Comex slamdown?

COMEX:GC1!   Gold Futures
Published at 9.30pm Monday AEST, this chart offers a pretty safe call to go short to 1324 or 1315 levels at 38.2 and 50% Fib retracement levels respectively.
The Comex knock-down is one of the most easily predicted market phenomena, as it has been happening so frequently for so many years.
But who wouldn't sell with a top-of-the-channel set-up like this. RSI and MACD indicators are also screaming "sell".


Comment: Note also the long-term wedge formation with GC1 right in the resistance zone. Could a surprise be awaiting?
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