RT Swing Trader Blog | News

Gold turning bearish?

December Gold has formed a bearish zigzag pattern when it failed at its test of the prior swing high. The failure formed a bearish reaction swing from 8/10 to 8/13. Thursday's high, at $963.10, pentrated the low side of the sell window, making Thursday's price bar the signal bar and confirming the sell signal at $948.50.  The TR pattern projects the next reversal date on 8/31 with a target objective at $903.00.

December Gold

December Gold

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