Gold has been in a strong downtrend, but be very careful of this level, if gold cannot close beyond the orange pennant there is a high chance of reversal. As seen before when it reached that level it reversed and now hit that level and is slowly making its way up.
It is also testing the resistance line for the descending triangle pattern (purple).
if gold can close below these structures then look forward to it hitting the 1680 level before an upside, if it cannot close below this level today or tomorrow then it may pull back then sky rocket next week.
Also note the buying volmues.
It is also testing the resistance line for the descending triangle pattern (purple).
if gold can close below these structures then look forward to it hitting the 1680 level before an upside, if it cannot close below this level today or tomorrow then it may pull back then sky rocket next week.
Also note the buying volmues.