FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
Gold has just broke out very strong, over main trendline, resistance and supply on h4.
I see it still has got a dot-trendline resistance. You can sell here.
Why ?
Because, after break out, it has not re-tested yet.

Comments

That's a nice contrarian call against all the Gold bulls out there at the moment, especially with the potential for a buy up in the oversold dollar. Definitely worth keeping track of with downside towards 1820. Think it's worth confirming further downside with a break below 1910 and if you're fairly cautious a break below 1900?

Only because some upside is there with Gold bouncing above its prior parallel channel (May 20th-July 20th) and bonds currently looking like a dead market for the foreseeable future, giving a boost to Gold back to previous highs.
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