"Gold over the last 3 months has formed a descending triangle from the high in april of 1580
Support at 1340 was tested 3 times before the break down to further support level of 1200.
Support at 1200 has been seen as relatively strong as gold has bounced back already to 1250- 1260.
That shows we have support now at 1200 and resistance above at around 1340ish.
One, if not both of these levels could be tested soon enough!! "
I posted this 3 weeks ago chuk, which you agreed with.
So you've changed your mind??
Gold was always going to go back to this area, like stocks bounce back to their resistance areas too!!
Gold hasn't changed its trend YET!!
Strong Resistance ahead which it needs to break through before any new trend call should be made!!
Cheers
"Gold over the last 3 months has formed a descending triangle...
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