Without the European markets I think the big players used up this low voulme Monday for a breakout of the channel...
We have just broke the upper trendline. But now it seems to me as volume is coming back with the US markets they will push back the price into the channel and fleecing the longs who bought the breakout....
Indicators are looking good:
RSI leaving overbought MACD might want to cross over and heading down.
This is how the big intermediate declines are starting usually...
I think thousands of bulls bought into this breakout...
We have just broke the upper trendline. But now it seems to me as volume is coming back with the US markets they will push back the price into the channel and fleecing the longs who bought the breakout....
Indicators are looking good:
RSI leaving overbought MACD might want to cross over and heading down.
This is how the big intermediate declines are starting usually...
I think thousands of bulls bought into this breakout...
Note
Note
Look at this daily chart...Note
Getting closer and closer to the resistance zone... (blue line)Note
As soon as the dollar is breaking out of the flag gold will be doomed
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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.