GOLD - Approaching trend-line resistance, pullback or break?..
- Gold is approaching its descending trend-line resistance
- Already breaking through 1225 resistance as I write this
TWO SCENARIOS:
1. Reach trend-line and pullback to 1217 important support
2. Break through trend-line, possible retest before moving up to 1237-1238 major resistance level
THIS IS NOT TRADE ADVICE NOR A TRADE CALL
- Already breaking through 1225 resistance as I write this
TWO SCENARIOS:
1. Reach trend-line and pullback to 1217 important support
2. Break through trend-line, possible retest before moving up to 1237-1238 major resistance level
THIS IS NOT TRADE ADVICE NOR A TRADE CALL
- HOWEVER on lower timeframe eg 15 minute, it looks to be simply retesting the 1225 resistance that was previously broken
- 4H candle could still break through, wait for this close to determine if the trend-line has been rejected/broken