Sasha Singh
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XAU/USD : Double Top Reversal

Gold finally reversed its uptrend by breaking the support trend line. Now the question arises whether it will continue this downtrend or not. A double top formation can be seen on the chart which suggest the reversal and the pair might break the support level at 1318.41.Now looking for the trend in stochastic oscillator, the signal line just crossed to move above the moving average line which indicates the change in trend and the pair will continue to follow the downtrend until the signal line is moving above the moving average line in the stochastic oscillator.