As showing in the diagram, this is the 5th times Gold is trying to break out the current resistance at 1562
Would this be the time it finally success?
If yes it's up to 1596...
if now back to 1564 again....
In Day chart:
- The price just dropped to the bottom of the rectangle channel box
- A bullish alt bat pattern is completed
- RSI/ Stoch divergency are shown as marked
- USD down
Tp1 @ point B
Tp1 @ point D
Day RSI shows divergency altho weekly RSI has shown divergence for a double top.
Be careful here highly likely long before a further drop down.
It's boring but wait for consolidation confirmation I would suggest
- Bullish shark first target reached go down before the second target at point A
-RSI shows overbought at H8
- oil price going up
- AUD weak and CAD strong the following week
-Bullish shark first target reached will go to the second target at point A after the retracement