Razvan
Long

GOLD - Pressure on the 200 EMA

COMEX:GC1!   GOLD FUTURES
566 8 1
The price for Gold             is putting some pressure over the 200 EMA resistance. The ascending triangle may soon break the resistance (a majority of 14 of 26 bloomberg analyst believe that it will break this week). The target for the triangle would be the trend line (the upper line of the bigger descending triangle ), and after that we can expect a rebound. There is a breakout on the RSI , that should be confirmed by a breakout in the price action.
close to the trendline target
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Are you going to enter short now? Please provide an update. Thanks.
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Razvan charttrader
That should be my choice, but i am still waiting for a candlestick pattern. There was a breakout (and close) over the bigger triangle line and i am looking for a false breakout confirmation. Otherwise, the signals are still bullish. QE3 speculation might push the price even higher.
snapshot
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Yep, still bullish:)
snapshot
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Razvan charttrader
with the FED pushing from behind :D
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