Gold has been selling off as the long term US Treasury rates have started to rally in recent weeks (TNX TYX). In addition the 'death cross' doesn't help encourage bulls.
But I see a double bottom along with some divergence that I think provides an opportunity for a decent risk/reward to swing back up $1,800/oz. The ABCD pattern shows a similar length from the AB to the CD.
But I see a double bottom along with some divergence that I think provides an opportunity for a decent risk/reward to swing back up $1,800/oz. The ABCD pattern shows a similar length from the AB to the CD.
