EliteTrader101

Gold is Crashing

Short
COMEX:GC1!   Gold Futures
This weekly chart shows a clear rejection of the point of control (POC) at the top so now its going to drop to take out the stops below. Once it breaks, see if price holds below for a continuation lower. A lot of people will see this as a head and shoulder too. The US dollar is still in an up trend and last week was a clear rejection of the lows so this adds to the bearish scenario for gold.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.