Mihai_Iacob

Will Gold drop to my 1720 target this week?

Short
OANDA:XAUUSD   Gold Spot / U.S. Dollar
I was bearish Gold all of last week and, indeed, after breaking under the rising trend line started at the 1616 low on Wednesday, the yellow metal has started to roll back down and on Friday also dropped under the neckline's support of a small H&S confirming that 1785 is top.
Now the price is 1746 and, in my opinion, it will continue to the downside.
Sell rallies is my preferred strategy and I expect 1720 to be reached this week.

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