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Gold Price With Daily Bearish Ranging

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by , 05-05-2019 at 07:05 PM (91 Views)
          
   
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It’s been another busy week for Gold prices after last week’s breakdown to fresh 2019 lows. And while no new highs or lows were established this week – there may be a number of deductions that traders can move-forward with on the yellow metal. In this piece, I’m going to take a tops-down look at Gold prices, incorporating the monthly chart to focus on what got us to our current levels, and then drilling down to shorter-term variations in the effort of devising strategy. But, first and foremost – an identification of the current state of Gold prices, which is a symmetrical wedge formation that’s been building since the Q3 of last year. This formation will often lend itself to breakouts that can run for a while, as the digestion exhibited inside of the formation gives way to elongated trends.

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