Expect price to test 50EMA if mid channel is broken.
1. Price was rejected twice at 0.59 2. Expect to trend lower into the mid to high 30 when liquidity runs lower.
Description in chart. Good luck!
Now corrected, the possibility of Gold going up and breaking up the 3 years resistance is very strong, with all is happening in syria, expect actions to be taken anything soon, be it wars of words and military. Uncertainty up = gold up!
Gold completed wave 4th on a descending triangle
Ascending wedge will mostly break up with the possible formation of inverse head and shoulder
Pay attention to RSI level for profit taking and possible bounce area.
Weekly chart shows dark cloud cover pattern meaning this week candle should close below the gain last week.