Gold Forecast: Potential Drop Ahead?
Last Friday gold dived under the broken neckline of the double top, that is, the level of 1980, and formed the engulfing. It means that the asset might potentially drop and gain the required support at the level of 1815.
The Canadian dollar is slowly approaching the lower boundary of the large symmetrical triangle. The asset is likely to rebound from this boundary inside of the triangle. So, let’s wait and see when it is going to happen.
American stock index S&P500 is heading up, trying to leave the level of 4195 behind. The asset might have to face the broken uptrend on the way up and undergo a small correction. Time will tell what is going to happen next.
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