Red line : short position target
Green line: : Long position target
As the Head& shoulders pattern has broken, and gold are very strong compared with DXY ; i believe first it will reach the upper side of the down-trend in short-term, around 1310;
However, the most of the technical signal shows overbuy on day chart, it may not have enough power to break out.
From the point of view of a "Big investor", Usually the market will surprise all the small investors...
Most of us are focus on the head& shoulders pattern; and we all know this pattern fail...
however..it doesn't means that the gold wouldn't appear a fake drop and go up..
Personally i think the chance of gold moving to green line is higher.
Green line: : Long position target
As the Head& shoulders pattern has broken, and gold are very strong compared with DXY ; i believe first it will reach the upper side of the down-trend in short-term, around 1310;
However, the most of the technical signal shows overbuy on day chart, it may not have enough power to break out.
From the point of view of a "Big investor", Usually the market will surprise all the small investors...
Most of us are focus on the head& shoulders pattern; and we all know this pattern fail...
however..it doesn't means that the gold wouldn't appear a fake drop and go up..
Personally i think the chance of gold moving to green line is higher.
Comment:
tonight is the meeting minuets of Fed meetings ....beware of fake breakout go up on 1312...
Comment:
moving to target around 1260. (green line up channel), a long-term drop is most likely will be happened (Red line)
Comment:
A short will be placed if the gold bounce back to the bottom of the head&shoulder (Around 1285)
Comment:
moving to target 1349.