Gold Price Channel
Trader Moe | Jul 19, 2015 02:48AM ET
Gold is at the Point in Its Price Channel (Gray) Where It’s Either Completing the Head of an Inverse H&S or is About to Retrace to Channel Top Before Heading into Bottoming Formation
I’d posted gold’s price channel earlier, but today, when looking at it again, I saw that it had begun earlier than I’d realized.
This means that gold elected not to break out into a melt-down channel back in its critical decision wave.
And that means gold is further along towards completing its move down than I had thought. Gold is either completing the head of an inverse H&S down here at the channel bottom before a breakout upwards from the channel, or it’s about to retrace to the channel top before heading down to form a bottom.
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