Now we can look at the chart the range of price movement of the Inverted Triangle (brown lines) are between $1310 and $1260. In my opinion at the $1260 level, at least price movement should have something to reverse the direction but seems limited only up to test 1270/80 to make a confirmation. I'll go long if any something to reverse at this level.
If gold consistently moves below $1280, there is hope that Gold will continue fall back to 1240/30, because I look that @ $1322 looks like formed a Double Top Reversal with a valley @ $1280 (I labeled it with 1 and 2) and it can bring Gold to the level of $1240/30 to retest $1240 Low.
If gold consistently moves below $1280, there is hope that Gold will continue fall back to 1240/30, because I look that @ $1322 looks like formed a Double Top Reversal with a valley @ $1280 (I labeled it with 1 and 2) and it can bring Gold to the level of $1240/30 to retest $1240 Low.
