Several commodities exhibited trend reversal candle y'day.
Prominent are the Gold and Crude ones. They both made a new high but then closed lower.
This shows heavy profit booking at higher levels.
Attaching chart of Gold which reversed from 1420 above levels.
The weekly charts indicate more range trading possible here.
In the chart is shown similar formation from June 10 period where similar patteren emerged and after that the prices remained within a range for quite some time.
Prominent are the Gold and Crude ones. They both made a new high but then closed lower.
This shows heavy profit booking at higher levels.
Attaching chart of Gold which reversed from 1420 above levels.
The weekly charts indicate more range trading possible here.
In the chart is shown similar formation from June 10 period where similar patteren emerged and after that the prices remained within a range for quite some time.
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