With Chinese buyers absent this week, we warned yesterday that the risk of a sell off was significantly elevated. Our fears were realised as gold broke down through the bottom boundary of the triangle consolidation and fell hard, tumbling through support at 1660 and 1653 and eventually fining support at 1644.
The breakdown of the triangle pattern is a very bearish development and we can expect more selling before finding strong support and rallying.
Our subscribers were alerted to the pending sell off early yesterday morning and were able to position themselves to profit from the decline.
Today's video looks at our targets for the decline and our strategy for our current trade.
The breakdown of the triangle pattern is a very bearish development and we can expect more selling before finding strong support and rallying.
Our subscribers were alerted to the pending sell off early yesterday morning and were able to position themselves to profit from the decline.
Today's video looks at our targets for the decline and our strategy for our current trade.