GOLD Triggered Downtrend Ahead?

 

We’re Looking at a GOLD Triggered Downtrend Ahead . . .

gold

Click Chart to Enlarge for Clarity

GOLD has recently bounced back from it’s downtrend resistance line and has also triggered a signal indicating even more weakness in price.

The chart tells much of the story . . .

The red-circled price area indicates a critical pivotal price area for GOLD.

Breaking below this price region further will likely lead to taking out the lows of last August and, $1100 will be the first test support area followed by $1055 should prices break through this support.

The price trend for GOLD still remains bearish and will continue to be unless prices can surge and break above $1175 this week. – George

  • November 4, 2015