Hi traders, we've anticipated a slowdown in the uptrend momentum in one of our earlier gold posts, and are actually still bearish on the yellow metal - at least until we get a fresh higher high.
Besides the H&S pattern, we can now also draw a well-defined falling channel, with three touches on the upper channel resistance.
Interestingly, that last touch aligns with the 61.8% Fib level, which sent Gold immediately lower.
We're still expecting a retest of recent LL and a possible fresh LL.
Like and share :)
Besides the H&S pattern, we can now also draw a well-defined falling channel, with three touches on the upper channel resistance.
Interestingly, that last touch aligns with the 61.8% Fib level, which sent Gold immediately lower.
We're still expecting a retest of recent LL and a possible fresh LL.
Like and share :)
