Today we are trading near the supportlevel @ 1.310$. Here is based the midterm uptrend-line, the min. correction Level - the fibo 38,2 retracement, the neckline of the possible and the 200 in this timeframe. All together are apivot support-Cluster.
1. Trading below that Level will break the midterm-uptrend - a shortsignal appears. The TPs of the are 1.274$/ 1.248$.
2. Will the trend be bought, that would be a Signal. Here you could exspect the next buying-wave up to 1345$/137$5.
3. Trading above the former Top @ 1.375$ will cause a midterm-longsignal --> TP 1.430$
This is just my persoonal view -please trade your own view.
COMMENTS ARE WELCOME -AGREE OR DISAGREE
Can Gold free itself from the H&S- lock?
Gold-0.16% is fighting with the 200. Will Gold-0.16% lose the fight, a bearish-shortterm-Turnaround-pattern in form of a would appear. The TPs of the are: 1278/1260.
Can the 200 be defended, then the consolidation seems to be finished.
Only Prices above the shoulders (1340$) will brighten the shortterm trend. --> TP would be the former Top @ 1375$ .