Gold: A long Term Look

FX:XAUUSD   Gold Spot / U.S. Dollar
2961 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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anybody know any good account managers
technician your rising trendline cannot be formed on my chart the way you formed it any ideas
Technician digitaltradingfx
Hi. you have to change the scaling to logarithmic chart
-1 Reply
Your rising trendline does not appear on my chart
This looks very good for the Dollar over the next few months ;)
thanks, very good,
Great, thanks for sharing (btw, the new chart layout looks really good) ;)
+1 Reply
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