TipTVFinance

Gold – double top breakout on hourly chart

FX_IDC:XAUUSD   GOLD / US DOLLAR
52 0 1
Hourly chart

Formationdouble top , head and shoulder on daily chart

Resistance - $1249.10, $1263, $1271

Support - $ $1235, $1227.12, $1217

  • Double bottom breakout on the hourly chart has opened doors for a drift lower to $1240-1238 levels and adds increases the likelihood of the metal completing head and shoulder formation.
  • The head and shoulder neckline is seen around $1217 levels.
  • Drop in oil             and resulting risk aversion and rise in demand for the safe haven treasuries (which offer positive yield) could weigh over metal.
  • On the higher side, previous day’s high of $1258.05 could be challenged once again if prices rise back above double top neckline of $1249.10
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out