1. Gold finally broke out of its with strong momentum. As breakout trader, we know the price moves in two phases (push and exhaustion) *Thanks David* and will nearly always retest a broken support or . Here we clearly see that price is retesting previous support as new resistance, which indicates that we're likely expectant of a downward move.
2. I enjoy the function of an for confluence. Moving averages operate as dynamic and when price plays under the , to me it's as good as looking at it as resistance.
3. Lastly, I'm a huge fan of chart patterns. Price seems to have formed into an ascending in a downtrend which signals continuation as we look to take advantage of the creation of a new lower higher.