Gold getting very techincal
What was support is now a strong overhead resistance - December 2016 low uptrend line (see daily chart)
Expect technical sellers to reemerge at $1264 level
Break above will allow buyers to get aggressive again and potentially targets $1295
An AB=CD formation suggest gold to end the year lower
But there are a lot of factors riding at the background - any geopolitical tensions could cancel the potential bearish setup
Expect technical sellers to reemerge at $1264 level
Break above will allow buyers to get aggressive again and potentially targets $1295
An AB=CD formation suggest gold to end the year lower
But there are a lot of factors riding at the background - any geopolitical tensions could cancel the potential bearish setup
More later