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Mihai_Iacob
Aug 6, 2021 3:27 AM

Gold- Double top? Short

GoldOANDA

Description

As I said yesterday, the strong reversal from 1830 gives me reasons to be bearish.
At this point, Gold, looks like is carving a double top (not confirmed yes) with the neckline around 1790-1795.
A break of this support would confirm the pattern and give scope to further losses.
1750 is the measured target for the double top and also technical support
Comments
mahdisoltaninjad
A clear and excellent analysis
Mihai_Iacob
@mahdisoltaninjad, thanks a lot my friend
ForexTrendline
awesome analysis bro! Here's ours from earlier today
DWK00
Why do you think 1760 won't hold?
Mihai_Iacob
@DWK00, i didn t said it won t. And we not even broke the neckline...
Astro_fxd
@OptimoomFX, Even as that it will be more complicating
Peakay234
we at that zone now.....
Astro_fxd
@DWK00, Good question mate
Praniti
I think non farm news will have a negative effect on gold and considering your analysis The more confident that the price will go down. thank
Mihai_Iacob
@Praniti, let s see
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