Big drop in gold coming? for OANDA:XAUUSD by Carrizo

trendline gold auxusd

I believe gold may drop big if and when breaking these two trend lines.

Furthermore:

DXY has reversed at bottom trend line and will now start a new long bullish trend.
US retail sales data was bad. Still DXY did not go down nor gold up.
Gold has failed to reach the top of 1834 for days. It tried breaking 1828 like 7 times but failed. Managed to reach 1829 at one point.The bullish trend is over imo.

Comment:

Looking good.

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