On the chart above we can clearly see the Right Shoulder of our Head and Shoulders forming right now!
This means we have a great chance to sell now with a TP@37.04 where our Neckline is.
Once this level is broken we can expect a much bigger drop of at least 4 USD.
Take profits are on the chart.
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DAX is currently struggling to penetrate the resistance area in purple. It is also forming a Rising Wedge on the way up which indicates a possible drop to the levels between 10 700 and 10 500
Key level - 11 063 - Sell if broken
Gold is currently moving in a bullish flag formation, for which the 1720 level is a Key Level.
if 1720 level is broken the trend is changing to bearish with targets around 1650
If 1720 is rejected we are going to the 1780s
Both on weekly and monthly chart we can see the candlestick formation on the move.
The resistance area for me is between 1767 and 1797. Any point between those levels is an appropriate Sell entry in my opinion.
After a considerable drop on gold and complete restructuring on the financial and wealth system following the Cup and Handle pattern we can expect a...