economic calendar<\/a>. <\/b><\/p>\n<\/div>\n[ad_2]<\/p>\n","protected":false},"excerpt":{"rendered":"
[ad_1] Failed Breakout A failed bullish breakout has the potential to follow through in the opposite direction. In other words, the chance for a bearish reversal is increasing. Today\u2019s low of $2,917 is key near-term support as a drop below it may lead to a test of support near the lower boundary line of the pennant and a possible drop through the bottom of the pattern. As of today, the lower line looks to be around Tuesday\u2019s low of 2,892 and therefore it can be used as a proxy for the line. Support Levels Look Solid Nonetheless, if the line is broken then there is an interim minor swing low included in the pennant formation at $2.878. A little lower is a lower swing low and the bottom of the pennant at $2,864. Notice that today the 20-Day MA (purple) has risen to $2,862, almost matching the pennant bottom. Those two indicators are key to the current advance. If either is broken to the downside and gold stays there, the likelihood of a deeper bearish retracement increases. The angle of ascent for the trend will then change, possibly to match the lower 50-Day MA, now at $2,743. Bullish Possible May Yet Occur Despite the slow start to the pennant breakout, a decisive advance above this week\u2019s high of $2,955 would trigger a bullish continuation of the trend on the weekly time frame. And that would put gold on track to target higher price levels. A 300% extension shows a possible target at $2,982. Further up is another extended price target at $3,012. For a look at all of today\u2019s economic events, check out our\u00a0economic calendar. [ad_2]<\/p>\n","protected":false},"author":1,"featured_media":36078,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-36077","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financas"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts\/36077","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/comments?post=36077"}],"version-history":[{"count":0,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts\/36077\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media\/36078"}],"wp:attachment":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media?parent=36077"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/categories?post=36077"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/tags?post=36077"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}