Exapnding Trianlge Pattern Broken on Weekly Gold Chart

23 nov 2016

RSI started forming divergence since April. Gold taking support at 1200 and bounced back. Now as it broke that support, it will act as a resistance and may test it again. Next major support is at around 1050. So, Sell Gold at around 1195, while it goes back to test 1200 for a target of 1050. Close position if it moves back above 1200 and sustains.