Gold fails second re-test of new high and opens downside
Gold has double topped at the last lower high and while I am skeptical of a sell right now given the USD index is falling there should be caution when taking a long position.
We need a higher close above the lower high to safely buy into Gold which may come later in today's session, otherwise if the USD index re-bounds (see linked trade analysis) we could short gold to the previous higher low at 1312.00.
We need a higher close above the lower high to safely buy into Gold which may come later in today's session, otherwise if the USD index re-bounds (see linked trade analysis) we could short gold to the previous higher low at 1312.00.
Related publications
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.