This trade setup on Gold Spot is formed by a period of consolidation; a period in which the price primarily moves sideways before choosing a new direction for the longer term. Because of the bearish breakout through support, it seems to suggest that we could see the next price move to 3091.1367.
Related Posts
Silver Spot – approaching a price line that has been previously tested numerous times in the past
Silver Spot is moving towards a key support level at 36.0185. This is a previously tested level for…
Gold Spot – approaching a support line that has been previously tested at least twice in the past
An emerging Channel Up has been detected on Gold Spot on the 1 hour chart. There is a…
US Oil is currently testing a level of 68.5650. Will the breakout continue or will things reverse?
US Oil has broken through a line of 68.5650. If this breakout holds true, we could see the…