Gold could be entering a price trap
Updated
Gold has been forming a cup pattern from the 2011 @1920 high to the 2020 high @ 2074. Since it's high in 2020 gold has slowly shed it's value over the course of 7 months it has been a steady decline. This price action has formed
what could be a nice handle. After bottoming out at 1667 it is likely we will see at least a short term reversal. Gold is likely to find resistance at 1765 in the coming weeks. These are two key levels that gold has found it's self trapped between historically for multiple weeks. A break above 1765 or below 1667 could signal a large move in their respective directions
what could be a nice handle. After bottoming out at 1667 it is likely we will see at least a short term reversal. Gold is likely to find resistance at 1765 in the coming weeks. These are two key levels that gold has found it's self trapped between historically for multiple weeks. A break above 1765 or below 1667 could signal a large move in their respective directions
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