Watch out below ... this guy is comin down!!!
In addition to the rising wedge/triangle we see on GOLD, there is also a nice Head & Shoulders Pattern formation presenting itself. I suspect we will go down to about $1450 on GOLD in the next 12 - 15 days.
I don't know the exact timing of the bottom of the head (neckline) or the top of the right shoulder, but I did put the price points at where I think the right shoulder will hit and where the neckline will be.
There are also a variety of indicators I am looking at that support my bearish movement including the DMI, MacD, and Stoch RSI.
I don't know the exact timing of the bottom of the head (neckline) or the top of the right shoulder, but I did put the price points at where I think the right shoulder will hit and where the neckline will be.
There are also a variety of indicators I am looking at that support my bearish movement including the DMI, MacD, and Stoch RSI.