DerpyTrades
Sep 30, 1:00 AM
$KGC $XAUUSD Pay close attention to the time frames.
KGC broke ABOVE the Res line of its over decades-long channel, retested it and got a bounce, but has already given back most of those gains.
IF it breaks back below Res (around 23) and confirms it as Res again, it could open the door to that demand zone in yellow between 7-11.
That would probably take months, but I'm keeping my eyes on this one bc it's a relatively stable company with relatively liquid options. The fact that it broke above its channel tells me buyers got way overexcited and it's likely to continue correcting.
NFA
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