Gold ready for a corrective drop.
Gold recently broke ascending slope line and re-tested it as resistance. Area has confluence with upper slope line of descending pitchfork and 61.8 retracement of recent decline.
~Possible stop above 1592
~Targets on the chart with red circle.
~Entry, wait for break of RSI line and ascending slope line on hourly chart. (below in description.)
Daily Chart
Hourly Chart.
~Possible stop above 1592
~Targets on the chart with red circle.
~Entry, wait for break of RSI line and ascending slope line on hourly chart. (below in description.)
Daily Chart
Hourly Chart.
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