Technician
Short

Gold: A long Term Look

FX:XAUUSD   Gold/U.S. Dollar
2950 7 47
Gold             has been in a bearish reversal mode since breaking out below the neckline of the major monthly double top shown on chart, since then , the price of gold             continued to move lower in a bearish configuration of lower highs and and last month managed to record a new lower low at 1131.00.

Recently, the price completed a triangle breakout and followed through below the rising trend line for the overall bull trend. That also supports the continuation of the ongoing bearish trend , however we might see further corrective movement in the short term, towards a retest of 1240 potential resistance, where i would look to short, eyeing multiple targets to the downside and ultimately 1030-1040 area.

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Technician
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Great, thanks for sharing (btw, the new chart layout looks really good) ;)
+1 Reply
mohsennasirian
2 years ago
thanks, very good,
Reply
99nines
2 years ago
This looks very good for the Dollar over the next few months ;)
Reply
digitaltradingfx
2 years ago
Your rising trendline does not appear on my chart
Reply
digitaltradingfx
2 years ago
technician your rising trendline cannot be formed on my chart the way you formed it any ideas
Reply
Technician TOP digitaltradingfx
2 years ago
Hi. you have to change the scaling to logarithmic chart
-1 Reply
UtterOnce
2 years ago
anybody know any good account managers
Reply
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