GOLD Long followed by a Short
I POSTED THIS SAME CHART EARLIER AS A LONG... DISREGARD & TAKE THIS CHART AS MY CORRECT ANALYSIS.
Price has recently broke out of a channel & I'm now looking for price to retest the previous channel. But first, we have a possible bullish flag/pennant forming which would make price continue upwards. The RSI is reading around 70% so puts a tick in the box for price to drop down. So am expecting a burst up out of the pattern followed by a drop down & retest of the previous channel. Good luck :)
Price has recently broke out of a channel & I'm now looking for price to retest the previous channel. But first, we have a possible bullish flag/pennant forming which would make price continue upwards. The RSI is reading around 70% so puts a tick in the box for price to drop down. So am expecting a burst up out of the pattern followed by a drop down & retest of the previous channel. Good luck :)