Gold more likely to break lower

I think this wedge formation is more likely to be broken to the downside because:
1) There is no Key resistance for Nikkei until 22786 (Nikkei and Gold has negative correlation)

2) There are a lot of bear stops around 112 for USDJPY. If that taken out it can even get to 113.

See the correlation between GOLD and USDJPY

Yorum:

We are getting to the lower band of the wedge formation. Can it break the support? I think is likely as Nikkei is making a fresh higher high