Cycle trading: Gold prints A bearish reversal - FXStreet

Gold printed a bearish reversal on Tuesday.

Gold broke above the previous daily cycle high on Tuesday, forming a higher high.  That helps to confirm that March 15 was an intermediate cycle low.   That gives us the expectation for this daily cycle to form as a right translated daily cycle.  And a new high on day 16 begins to shift the odds towards a right translated daily cycle formation. However, gold closed below the 1700 resistance level.  If gold forms a swing high and breaks below the daily cycle trend line that will signal that gold has begun its daily cycle decline.  A break below 1674.50 will form a daily swing high. 

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April 08, 2020 at 04:39AM
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Cycle trading: Gold prints A bearish reversal - FXStreet
"cycle" - Google News
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