alexkyp

Gold will it reverse ?

Short
FOREXCOM:XAUUSD   Gold Spot / U.S. Dollar
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5
Gold had a long bullish run the past month with several times trying to break the $1600 barrier but currently is trading below the bullish trendline that has a clear change of polarity and is now acting as resistance around $1570. There is now clear show of bullish retaliation but there is a clear weekly piercing pattern that suggest a continuation of the downward trend.
If we were to look for a sell we can wait for another rejection on the daily trendline around $1574 before entering !

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