JUST MY VIEWS ON GOLD. AS THE JUMPS R GETTING SHORTER IT IS BOUND FOR A BREAKOUT/BREAKDOWN SOON.
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mind u these r just my views and if the price breaks n closes above the upper trendline i will reverse my position for long,. not an advice just my views.
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getting there
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target 1 hit. that for me is a 75% position close. 25% position still open, with an eye on 1850 +- 5 points
The main point u mentioned is that the triangles are getting shorter, i too feel the same and the buying gas looks weak and not like before. I feel the big bear is around the corner.
@Saeed966, thanks will wait n see tonite as i see convergence in a way gold n US index's are moving this year. n m bearish on them right now hence a bearish view on gold. 50dma can support it a bit as has done in past but have to see for how long.
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we are sitll stuck above daily support, if we will break lower, then it's definitely possible to see this move