WallStScalper

Gold could be setting up a multible shs- stair-stepping down

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Wednesday we saw the first shs             setup-up and with neck line broken yesterday we see the result today. But it could be the first of multiple shs             setting up for bringing down gold             to around the 1000 area. But first thing first. With today's move we see another and bigger possible shs             setting up as shown at the chart above. I'm short term neutral and longer term bearish until proven otherwise by price action. (That could be if a slanted ihs             will be formed with a right shoulder setting up with a drop to around 1350 and price turns up from there.)
But as always... time will show. Safe trading Gents!
BM
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MalikAsmi
3 years ago
I agree with you, even with the worries on Syrian conflict in the middle east, I believe gold price will continue to bearish.
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