Clean Bearish Trend continuation Setup.

16 mar 2019

Gold pushed up from the 2019 Open price, but momentum seems to turn down again. Price broke out of ascending pitchfork and by doing so, it formed a new descending pitchfork. Price had a nice rejection from the lower parallel of Ascending pitchfork and the .382 retracement of the recent decline. We also closed the week below the critical 2018 Open price, after a brief touch above. One could also recognize a potential H&S on the 4-Hour chart.

Possible Targets