Gold broke out of a two touch point downwards trend line recently and retested a previous swing high of around $3475. Since the swing high retest gold has dropped back to a retest of the trendline that was broken. Price has been holding above the lower green trend line with multiple touch points. With continued economic uncertainty among retail investors gold still stands as a safe haven investment so In the short term I can see it going to $3500 or even $3600.
If the lower trend line has a candle close below it then do not go long into this trade.
If the lower trend line has a candle close below it then do not go long into this trade.
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