tradeseek
Short

H&S and Bearish Breakout on the way for Gold

FX:XAUUSD   Gold Spot / U.S. Dollar
466 3 1
Recent H&S and neckline break. Testing major resistance at around 1200. It looks like to me there's a major breakout on the way and I think it's most likely bearish . Gold             has so far not broken that major resistance level but I believe it is coming. The difference from the high close point in the Head and the neckline is 135. The neckline is at 1280, so 1280-135=1145. Because of this price target, I think that gold             will break the 1200 level and will continue dropping to 1090 as this is the next level of support going back to late 2009 early 2010.
BREAK OUT WILL COME.......ACTUALLY I'M EXPECTING A BIG BREAK OUT OF 250$
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tradeseek Serkan Gulec
What do you mean 250? Gold already broke out in the chart above if you load new bars. Watch it drop to 1100 and gold stocks will drops as they can't make a profit at under 1200.
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Serkan Gulec tradeseek
I MEAN IF GOLD CAN BROKE OUT THROUGH 1216 THEN THE BULLS WILL BUY AND GOLD PRICE WILL GO UP TILL 1322-1344
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