September 4, 2015


  • Gold weekly shows price within the bearish descending triangle pattern. Price tried to move above the the pattern but the resistance line was too strong for gold bulls to break above. 
  • Daily charts also shows the Golden ratio and 200 SMA as important resistance levels. No hope for gold bull till price stays below these two levels.



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My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore