Deftsuo

Potential bear flag forming on Gold.

Short
TVC:GOLD   CFDs on Gold (US$ / OZ)
Gold is currently forming what appears to be a bear flag formation on the daily. My other TradingView post on Gold was high-lighting a potential broadening top formation, but that has since been invalidated. On the daily chart , we can see there has been several attempts by Gold to push higher, but each attempt has been sold down resulting in some rather ugly daily wicks just under the 20 day moving average in Pink. I am now seeing a bear flag forming with a measured move to the 1430-1440 prior resistance zone which should now act as new support.

-This is not financial advice. Always do your own research and own due-diligence before investing and trading, as for investing and trading comes with high amounts of risk. I am not liable for any incurred losses or financial distress.

Also, for any crypto traders out there, Binance just launched their US exchange (Binance US.) If you need a link to go sign up, click here--> https://www.binance.us/?ref=35000668
Comment: Here's a bit of a cleaner view:
Comment: Bear flag was invalidated:
Comment: Might potentially be seeing an H&S pattern forming here now:
Comment:

Comments

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