Tuesday, June 21, 2016

Gold's Failed Breakouts

August futures $1273.3 -18.80.
From Slope of Hope:

And this sure didn’t help either.
Here's the longer term view via FinViz:

What could have been a picture perfect cup-n-handle is now a double top at the $1309 area. 
Plus, the picture perfect C&H has the handle angle down a bit to wash out the hopers and dreamers rather than sticking out at 90° or worse angling up on the chart as in the current case.