Sunday, 29 November 2015

Gold first weekly close below trend channel that originated 4 years ago

Gold is showing its first weekly close below the down trend channel that originated 4 years ago. It will now either remain below the channel and accelerate lower, or it will rally back in to the channel and the break will prove to be false. I favour the latter, but I have been on the wrong side of this market for a couple of months now. Let's see.


EUR/USD daily chart, beneath down trend line resistance, for now