OUTLOOK ON GOLD IS QUITE SIMILAR TO SILVER
STILL LOOKING BEARISH AFTER PRICE WAS REJECTED BY THE MONTHLY DOWNTREND LINE AND HEAVY BEARISH KUMO WITH A GOOD BEARISH SIGNAL ON THE FISHER THERE I BELIEVE WE ARE STILL SHORT WITH ALSO UPCOMING RATE HIKES.
WITH ANOTHER POSSIBLE ENDING TRIANGLE I AM HOLDING SHORT TO TRIANGLE POINT C AROUND 111.8 PROBABLY HEDGE IN A LONG THERE OFF THAT NICE RISING SUPPORT LINE FOR A CHANCE WE COULD GO UP. IF WE ARE IN FACT IN A TRIANGLE AND WE BREAK LOWER I HAVE INCLUDED SOME AREAS OF CONJOINT SUPPORT WHERE WE COULD ENTER POSSIBLE LONGS AND SOME TARGETS FOR FUTURE HIGHS.
STILL LOOKING BEARISH AFTER PRICE WAS REJECTED BY THE MONTHLY DOWNTREND LINE AND HEAVY BEARISH KUMO WITH A GOOD BEARISH SIGNAL ON THE FISHER THERE I BELIEVE WE ARE STILL SHORT WITH ALSO UPCOMING RATE HIKES.
WITH ANOTHER POSSIBLE ENDING TRIANGLE I AM HOLDING SHORT TO TRIANGLE POINT C AROUND 111.8 PROBABLY HEDGE IN A LONG THERE OFF THAT NICE RISING SUPPORT LINE FOR A CHANCE WE COULD GO UP. IF WE ARE IN FACT IN A TRIANGLE AND WE BREAK LOWER I HAVE INCLUDED SOME AREAS OF CONJOINT SUPPORT WHERE WE COULD ENTER POSSIBLE LONGS AND SOME TARGETS FOR FUTURE HIGHS.
Note
ALSO IS IT JUST ME OR DOES GOLD LOOK LIKE A GIANT FLAG 
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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.