darth.stocks

Gold: Decision Time 1400 or 1150 ?

FX:XAUUSD   Gold Spot / U.S. Dollar
208 1 6
More and more it looks that since last December a rising wedge in Gold             is forming. We had false breakouts till cross resistances and corrections back int the wedge . Striking here is that we currently have a really STRONG short term resistance from the falling triangle... If we break it, there are still 2 long term resistance! On break of these the Target region should be about 1400. If we break downward it is about 1150. So..., 75 up and 175 down! I stay neutral till we either break resistance or support...
Comment: Think about if technically the short term support from the rising wedge can be stronger than the resistance since 2011 !!
Comment: Stay calm... if 1280 is broken we gat a massive sell signal.
https://www.tradingview.com/x/Rq7Zl
it looks like heading down..maybe a retest of the 1300s before heading down...?
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