WD Gann & Gold: A Break in Gold Coming

WD Gann & GOLD: A Break in Gold Coming

recentGoldThe present rise in GOLD is at an unsustainable angle of ascent.

This is a market poised for a dive at the moment, and, while prices could continue to rise a bit more, this market has extended itself into a short-term over bought condition.

I posted the break price points for this market in the Members Section below.

You’ll have to become a member to see the chart that was provided to Level 2 Elite Members earlier today.

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Here’s the GOLD chart:

WD Gann & Gold

WD Gann & Gold

The upper green line shows the strong angle which price has been following up to the time this chart was made.

Once momentum slows and this green line is broken through to the downside, prices will likely drop to above the next lower green line area which they may likely stay above and continue their upwards trend.

These are short-term trends and one should always be flexible enough to switch directions when indicated by the Excalibur Method signals. – George