Gold Attempts to Approach the 1500 Level!
Good day!
Gold appears to be attempting to try and break the triangle in the daily chart. It’s now pulling back from the 1400 horizontal support level that has been actively tested for two consecutive weeks. It could be assumed that gold could touch the 1500 level, considering that the handle of a triangle is present, which also serves as a pennant:
The psychological 1400 level coincides with the broken trend line of an uptrend, away from which the price of gold could potentially get support and jump upwards:
The currency pair EUR/GBP closely approached the descending triangle and is actively testing it. We could assume that the asset may pull back down:
Based on the latest reports by COT CFTC, large operators have been slowly shortening long positions week after week. As for now, the operators entered a negative zone which could indirectly signify a potential price drop:
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