April Gold - Trend is down but in the last five days gold has been consolidating within 1565 - 1585 range. This could be an area of temp support. Breakout from this pattern is going to push the price up to the next resistance (1620) and towards the down-sloping parallel line. Risk / Reward = 1.85 not bad.
that is a good support, but in a long term it is down. the inside candle from 02/27 can be an indicator to lower prices and plus it does look like a descending triangle...so I am expecting short...to many sellers at 1574 level. they were building almost for a week now... would like to get contracts and see prices higher to go short actually...Might be for a short period 1-2 days it might work....but over all is down...might work. lets see! good job leones!