Will Gold Backtest An Important Trend Line? | 18th July, 2017

This chart was last published on 9th of July showing a breach of an important trend line.

Gold Daily 2016
Click chart to enlarge.

Price is now bouncing up for another test. There is a little room still for a little more upwards movement, if price wants to come up to kiss the trend line.

Again, adding volume makes this simple trend line more powerful. The breach was supported by volume, but now the bounce is not. The volume profile is bearish, adding to confidence that price may now stay below the line.

This analysis is published @ 05:05 a.m. EST.

One thought on “Will Gold Backtest An Important Trend Line? | 18th July, 2017

  1. Imo at CMP 1242+ Gold will likely bull higher for 1249.5>1250.6>1252.6>>maybe all the way to 1264-1265. Ambitious partial stop at 1239 and a stop lower at 1236 may just work! lol

Comments are closed.