billclintonjohn

XAUUSD Short term Sell

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
On Day timeframe gold is looking for short term correction before continuing with its upside movement. The retracement may go to 1874.29 price level to complete a third touch of the ascending triangle pattern so as to continue with the Uptrend after a break and retest of the current support zone. Meanwhile, on the 15 mins tf it has confirmed a break of a neckline (on a double top reversal pattern) and retested for the first touch as evidence and confirmation on sell at 5min tf for a short term. Fundamentally Gold is still on upside favour.
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