GOLD - False breakout?
Without the European markets I think the big players used up this low voulme Monday for a breakout of the channel...
We have just broke the upper trendline. But now it seems to me as volume is coming back with the US markets they will push back the price into the channel and fleecing the longs who bought the breakout....
Indicators are looking good:
RSI leaving overbought MACD might want to cross over and heading down.
This is how the big intermediate declines are starting usually...
I think thousands of bulls bought into this breakout...
We have just broke the upper trendline. But now it seems to me as volume is coming back with the US markets they will push back the price into the channel and fleecing the longs who bought the breakout....
Indicators are looking good:
RSI leaving overbought MACD might want to cross over and heading down.
This is how the big intermediate declines are starting usually...
I think thousands of bulls bought into this breakout...
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Look at this daily chart...
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Getting closer and closer to the resistance zone... (blue line)
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As soon as the dollar is breaking out of the flag gold will be doomed
