• May 14, 2025, 7:26 am
• May 14, 2025, 4:46 am
• May 14, 2025, 3:47 am
• May 14, 2025, 3:42 am
• May 14, 2025, 3:42 am
Gold has form double top in a resistance level if break the neck line then there will be chance of good amount of down side
The 'trendline' had spoken, but what about the harmonic pattern?
I do NOT believe in trendlines, so the reason for me is that price reacts to 1.1292 because of something else. However, reacting to this is a very strong indication of price weakness.
Now price is at B:
a) If price bounces from B, it would likely move to 1.0835
b) If price bounces from C, it would likely retest D
Do also take note of bond yield which is a bit crazy nowadays. This is likely a test for the $. The US30Y is near 5% - if it goes above 5.25%, then we can expect something to break. $ would be at risk.
Good luck.