GOLD Technical Analysis Chart 08/06/2019 by ChartGuys.com

6 Comments

  1. Nice analysis. I saw a textbook cup and handle pattern form in the hourly chart that played out today before the close. I also saw one forming on the 4 hr which kept me from selling it today, along with a close of the daily candle above the upper Bollinger band which keeps it in breakout mode. I agree that we need some consolidation. But, it we get follow through on the cup and handle pattern tonight and tomorrow, we will likely test the next resistance at approximately $1487 before we pull back. Let's see what happens. Keep up the good work.

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