Looking at this double top outside the bearish channel. I expect RSI to show bearish divergence here too. The light blue line is a conservative target of a measured move from the double top formation.
Hell of a move from gold! I didnt sell because the 4h closed above the high.
RonBron1
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BUY OIL, SHORT YEN
RonBron1
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1330 is the ceiling it can go no higher than that... their is more gold miners mining serendipitous amounts of mine-able gold available to which far circumvents the demand fon it.. ... i understand at this point there has been a PREROGATIVE TO WHICH FOR THEIR BEING A derivative in play to which by means from the average gold bar purchasing diversified investor has come to at which the point where he has divided out his gold from his vaults for liquidity .. now for some time investors that which normally pick up gold bars during this june month to for this pre fall trimester , it is at which the point for gold to be trading between 1250 - 1330 ... for which due to the means for this time frame normally entails for the shortage of gold to be full filled to do this demand at which is a technical normality , gold must trade over the 1250 mark to allow for miners to thus be able to mine the gold , for which there being a demand for gold at this time, gold miners can onlY afford to make profit while mining only if gold trades at the 1250 bottom... so for the next 3 months.. expect gold to steady trade between 1250-1330 until by which the demand for gold has been met, there by which when the hold period for gold begins .. expect either 2 derivative A MASS MARKET SCARE TO ESCALATE GOLD TO Overvalued levels or by which what i am expecting a bullish dollar to topple these fantaSY GOLD MARKET BACK TO WHERE US STOCK BROKERS SEE IT BELONGING IN THE 900 DOLLAR RANGE... SHORTING GOLD SOON IS THE PERGATIVE
UnknownUnicorn56139
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Looks like the inflation theory pushed gold above resistance levels. What a move!
RonBron1
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time too short gold my friends " twin-c vanilla spilla..//
UnknownUnicorn56139
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Could be a cup and handle breakout of the bear channel. If short, set stop above channel.
Scenario: Inflation low, yet gold was oversold, yet it has already bounced.
ChrisBaron
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Thats the plan if theres some bearish PA on 4h. I can see a gold rally if the daily closes above 1277.
UnknownUnicorn56139
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I would wait until it returns into the channel if you attempt to short. Gold is running parabolic for now. Don't fight the trend, let the herd trip up first.
UnknownUnicorn56139
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Not giving advice, heck I get carried away by emotions also :) You might be seeing something I am not.