Gold Identified Forming A Bearish Continuation

FX:XAUUSD   Gold Spot / U.S. Dollar
658 0 7
Gold's price has risen from $1,525 to $1,795 and then decreased sharply to $1,180, after $1,525 experienced a downward breakout and then Gold's price has limited recovery up to $1,435 within 2 months. This incident reflects that the price movement tends to form LEFT HOOK formation.

In August 2013, price closed around $1,395, interpreting the LEFT HOOK formation will form a handle or the phase of consolidation between $1,435 and $1,180 as an upper limit as the lower limit and after 14 months of consolidation (since 28 August 2013 until today), the price movement has formed a Cup & Handle formation Top in a Symmetrical Triangle formation. I am using $1,345 levels as the upper limit and lower limit in $1,270 as a consolidation of the handle phase of cup.

In the consolidation of the handle phase of cup, price closed around $1,249 in May 2014, its below $1,270 and in July 2014 price has declined to move above $1,345. In my view, it is still bearish for gold             .
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out