The bigger picture, I doubt gold has bottomed and that's still a long way.
But a rebound and with further significant appreciation from the current bottom?
Continuing from my last post on bat formation and double bottom,
the price did gain further, but a pity just a small wave of up to 70 pips, then it slid.
However, the price rebounded off strongly after failure to break below a rising trendline based on the week chart.
To put it simply, rebound was strong, a new formation (inverse H&S) is in progress on top of a valid bat formation - Looking to long near 1253.
But a rebound and with further significant appreciation from the current bottom?
Continuing from my last post on bat formation and double bottom,
the price did gain further, but a pity just a small wave of up to 70 pips, then it slid.
However, the price rebounded off strongly after failure to break below a rising trendline based on the week chart.
To put it simply, rebound was strong, a new formation (inverse H&S) is in progress on top of a valid bat formation - Looking to long near 1253.
