Gold has been on a bullish run after reaching the trend line in the previous post I outlined for you all. I need to see some exhaustion and price action failing to break above the sell off (1757.919) which is looking like the head of a head and shoulder pattern. The illustration reveals a possible right shoulder forming which is a bearish signal. Remember, JP Morgan is still manipulating the metals market. Why is this important? The dollar has been gaining some strength, but when the price of gold goes up, it makes it harder for those using dollars. Due to the dollar is currently the world reserve currency, gold price needs to be manipulated, until interest rates spike. However, that is another story for another day. I will continue to monitor this setup for us. Be sure to like and leave a comment below and tell us what you see gold doing. We appreciate you for checking out our post and remember, we will see you on the other side.
Rodrick (CEO)
Third Eye Traders
Rodrick (CEO)
Third Eye Traders