Watching Gold for a real breakout rally... or breakdown
While many may be bullish on Gold in the short term, I find that Gold is acting a little off and weirdly too.
With a fiercely dropping USD, Gold is barely in demand (in the short term).
This tells of either a burst breakout rally or a slow breakdown as Gold has slowly creeped up in the last three weeks.
Having bounced off the initial downside target of 1800, Gold is marginally below 1900, and it just failed the downtrending channel resistance despite clocking a series of higher lows and higher highs.
Watch this one reveal its true colours... soon.
With a fiercely dropping USD, Gold is barely in demand (in the short term).
This tells of either a burst breakout rally or a slow breakdown as Gold has slowly creeped up in the last three weeks.
Having bounced off the initial downside target of 1800, Gold is marginally below 1900, and it just failed the downtrending channel resistance despite clocking a series of higher lows and higher highs.
Watch this one reveal its true colours... soon.
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