Possible route gold may take

16 Okt 2021

If you look on the chart you can see that this kind of pattern has been shown before, My theory is that its going to fake a breakout at the resistance near the top of the downwards trend line. This will cripple buy limits and take out tight Sl for shorts and proceed to break down, With this in mind i feel it will bounce back and forth down the trendline until it breaks down below the support level near the bottom of the trend and we could see 1680 and even possibly 1450. From this it may give banks a better price to than rebound back into a bullish market but until than I am fully short on this.