FXHighway

Gold: Negative formation changes the track

Short
FX:XAUUSD   Gold Spot / U.S. Dollar
4
Target: 1133.00
Risk: 1213.00

Technical Reasons:

The completion of a head and shoulders’ pattern that has negative targets changes the intraday track downwards, and negative pressure coming from the exponential moving average 50 supports more decline.

Rise at the bears’ power indicator, and stochastic positivity might push to retest the broken neckline at 1190.00.


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