Got Gold ?

27 בספט׳ 2019

Gold has been pumping hard this year. A pull-back seems likely at some point. Gold appears to be in a head and shoulders pattern. It also broke below the purple trend line that it has been using as support for the past several months. RSI is in a down trend. My target is indicated by the red line at $1415. A retest and failure at the purple trend line would support the bearish scenario. A convincing break below the 50-day EMA would seal the deal.