Gold is testing the dark/black pennant on the outside which it failed. this could be a signal for sell. however if the next two daily closes within the pennant then wait for buy signal. if they close outside the pennant then its a sell for me.
Comment:
didnt give a full and clear idea.
Gold has been in a rising wedge/pennant since march and has now broken below in early June. From the chart it has now retested this pennant but could break through, this could be a retest of the pennant before the huge fall until 1630. if gold finds its way to close below 1711 and hold then its sell. If gold does not close around 1711 for today, they look towards it reaching 1740 once more for another test and if fails it may go for 1711, if it does close around 1711 then sell until 1680 and wait for signals to sell until 1630.
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Gold has been in a rising wedge/pennant since march and has now broken below in early June. From the chart it has now retested this pennant but could break through, this could be a retest of the pennant before the huge fall until 1630. if gold finds its way to close below 1711 and hold then its sell. If gold does not close around 1711 for today, they look towards it reaching 1740 once more for another test and if fails it may go for 1711, if it does close around 1711 then sell until 1680 and wait for signals to sell until 1630.