Gold appears to be forming a descending triangle pattern as we look past end of September to mid-October. I'm a gold bull but this pattern has me cautious and so I am approaching the metal with 3 things in mind:
1. I will take a daily close below $1840 as a bearish sign with a downward target of $1767
2. A weekly close above $1860 towards US Election day would support the return of bullish sentiment
3. $2300 target before year-end
1. I will take a daily close below $1840 as a bearish sign with a downward target of $1767
2. A weekly close above $1860 towards US Election day would support the return of bullish sentiment
3. $2300 target before year-end
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.