Although we need to wait until the daily close to confirm this breakdown, this loss of support indicates a few hundred pips to go for bears before an eventual relief rally.
Note that pink is the up trend line from November 2016 and may coincide with the next level of support on RSI. Keep knocking them down guys and gals.
Gold bulls rejoice.
Note that pink is the up trend line from November 2016 and may coincide with the next level of support on RSI. Keep knocking them down guys and gals.
Gold bulls rejoice.
Note
RSI currently backtesting previous support as resistance. Easy decision point here. If price loses this level, then continue short, if back test fails, then obvious long and potential trend change.
Good luck all.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.