TipTVFinance

Gold Bulls, don’t jump the gun

TVC:GOLD   Gold (US$/OZ)
Trump has won the Presidency. Markets are having a breather following a high octane Asian session which saw dollar drop against the safe havens, while risk assets melt.

Gold             clocked a high of $1337 today before retreating slightly to trade around $1317 levels.

Despite the bullish move, we have not had a bearish invalidation on the monthly chart; given the descending trend line is still intact.

Moreover, bearish invalidation is seen only if the monthly close is above the descending trend line . Till then, the upticks could be met with fresh offers.
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