Gold: What next?

COMEX:GC1!   Gold Futures
216 0 7
The long term is in a downtrend but…
The Daily trend is in an uptrend technically indicated by the following:
• "dow" pattern – higher bottoms and higher tops ( B1-T1-B2-T2 )
• prices is currently trading above the downtrend line

The uptrend is confirmed from the MAs. Bullish cross observed – MA10 cross under MA20.
RSI is ABOVE the equilibrium level- 50. Bullish Momentum.
Generally, the main long-term trend has favoured the downside. Keep in mind that the near-term trend push upward higher, clears trend-line resistance and test the SMA200 at 1175.34 - is likely to appear as a corrective move or as a trend reversal-.
Therefore, we will recommend Long Positions for the no position holders on GOLD             in case of a move ABOVE the S1 at 1164.20. Take profit at 1190.10- 1201.60 (R1-R2), take profit 2 at 1226.50 (R3), and stop loss should be a bit below the S1, thus the stop loss is at 1125.00.
For Long-holders we will recommend to HOLD their long positions and adopt the same stop loss and take profit orders as mentioned above.
Otherwise, a move below the uptrend trend-line confirms that prices may move downwards and might challenge the 61.8% Fib- support level (S2) at 1117.30. In this case we will recommend short positions. Take profit at 1099.00 (S3) and take profit-2 at 1080.20 (S4). Stop loss should be a bit above the S1, thus the stop loss is at 1180.00.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out