SimpleChartsLLC

Gold, needs to rest?

FX:XAUUSD   Gold Spot / U.S. Dollar
Gold is struggling for five weeks now, and couldn't break the highs. Maybe it is the time to rest a little for bullish move starting mid July.
Trade active:
price is at 2SD of 6 months price action, and IG retailers weekly sentiment index is at 65% long. Seasonality analysis suggests a bearish outlook between 2 July and 23 July. Would gold start to fade out?

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.