At least that's what I can see from a newbie, Gold looks like locked under $1295/1305 where I look that gold forms a inverted triangle (brown line) with the upper limit of the price movement @ $1310 and lower @ $1260.
On the other hand the red line I have called "scoop" where prices have entered a scoop areas with a resistance levels @ $1295 as a scoop lips and the pink line is Symmetrical Descending with the upper limit of the price movement @ $1305 and lower @ $1295.
In my view, Gold still has hope for a test $1272 with a decline target price around $1260/55 and extreme to backtest level $1240.
On the other hand the red line I have called "scoop" where prices have entered a scoop areas with a resistance levels @ $1295 as a scoop lips and the pink line is Symmetrical Descending with the upper limit of the price movement @ $1305 and lower @ $1295.
In my view, Gold still has hope for a test $1272 with a decline target price around $1260/55 and extreme to backtest level $1240.
