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Gold – Lower tops inside sideways channel

OANDA:XAUUSD   Gold
Despite last Wednesday’s sharp rally, the subsequent exhaustion near $1345 and a retreat to $1324 today suggests a temporary top has been made around $1345 and prices could be heading lower to $1309 (100-DMA).

Moreover, retreat from near $1345 has put in place a falling top formation inside a larger sideways channel.

On the higher side, only a daily close above $1350 (confluence of channel resistance and monthly pivot R1)
albertwt
3 months ago
It seems the trend is bearish for Gold until next year ?
Reply
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