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!