Trend Line Break

9

Gold delivered a break of the declining trend line today.

99 gold

Gold formed a swing high on day 21 but has not broken the daily trend Line to confirm the daily cycle decline. Today gold broke above the declining trend line. If gold delivers any bullish follow through we will be forced to label day 21 as the daily cycle low.

However the weak close makes it possible that this was a false breakout. If gold continues lower, breaking back below the declining trend line then it is likely that today was day 27 and gold is still declining into its daily cycle decline.

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