Gold price, page-4245

I might just be ranting here but still studying as I do, the Gold price.

@monkeybusiness , I'm changing my resistance price we talked about the other day up a little. This slightly higher price before it, $1,375.43 happens to match the double top we had recently. Might be a better target price to smash for confirming if/when we are making new ground.
This is XAU USD (live price), not futures.






This $1,375 price level was so close to touching during the recent double top (reversal signal), and failed to push past. I figure that gives this specific price a bit more credibility, it's proving to be a stubborn price to beat.
Note the underlying green support trend as well, which may continue to guide us up over the top in the coming days. This has been in place and doing us favours for 2 months now...





Now, back to the old and terrible diagonal downtrend. The one that turned me a bear as we all watched 53c share price dip as low as 40.5. It seems she wants to win this tug of war. We are back under it again today after attempting to push through a couple of times now.

(I forget specifics, but I seem to recall from watching other chartists in the past, there might be some kind of theory on it still being ok to touch resistance 2 to 3 times before pushing past it. LOL, I have no reference to this so that may be complete hogwash. I just hope that failing a couple of times is not a confirmation that we move no higher from this point on for the rest of the year - a fair argument just at the minute while these resistances hold.)



I might be wrong in all of this but looks like a reasonable assessment of price resistances from my point of view.


When I bought back on Monday it with the assumption that the diagonal was being broken through on weekly and monthly, with daily to follow, and I expected POG to continue well up and over both these red resistances.
It might be that I jumped the gun a little bit, in which case I'll be wondering about how much lower I can pick up another parcel for.

See how it pans out from here...