FX:XAUUSD   Gold Spot / U.S. Dollar
48 0 1
we have a bulish engulfing candle in monthly chart... But we have also a contracting triangle preceded by a downtrend and this means that it is a continuatiion patern...

July will get prices slightly higher with the crowds dreaming prices above 1400 and even 1500, but we won't get over 1370 in best case scenario and then the triangle comes to an end and down...

Interesting that we can see the triangles in almost any time frame and thats a very strong indicator....

July perhaps ends with a bloodwash of stopped buyers of gold             and silver             ....
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