Gold Spot is trapped in a Triangle formation, implying that a breakout is Imminent. This is a great trade-setup for both trend and swing traders. It is now approaching a resistance line that has been tested in the past. Divergence opportunists may be very optimistic about a possible breakout and this may be the start of a new trend. It may also be that this convergence factor may result in the ideal setup for swing traders that are on the lookout for a possible bounce-back. Whatever happens, an initial move towards 2728.0808 is expected in the short term.
Related Posts
Important resistance line being approached by Gold Spot. This price has been tested numerous time in the last 2 days
Gold Spot is heading towards the resistance line of a Ascending Triangle and could reach this point within…
Important price line being approached by Gold Spot. This price has been tested numerous times before.
Gold Spot is moving towards a key support level at 2729.2000. Gold Spot has previously tested this level…
Natural Gas – breach of a trending resistance line that has been tested at least twice before.
Natural Gas has broken through the resistance line which it has tested twice in the past. We have…