The general trend of the COMEX GOLD FUTURE is still valid as an uptrend as soon as it is above the blue slope support.
The red line marks the most important line where the sellers won't let the market go above.
The yellow metal have seen recently strong sellers push and have revealed an area (The red line) where the fight is going on between sellers and buyers. Going down further and passing the under pink rectangle zone would probably mark a strong validation of a declining price.
We have seen in the past strong downtrends stretching and erasing all seller by squeezing them up, to then, return again above the blue up trending slope. So beware of any surprise.
For the moment, we are observing this fight at the red line zone. It would probably better to look at the fight and jump on the spot with the winners. Possibility of easy trade and a profitable one.
Hint: the volumes are a bit down since few days, probably it is a good idea to follow up on any significant increase of them...
The red line marks the most important line where the sellers won't let the market go above.
The yellow metal have seen recently strong sellers push and have revealed an area (The red line) where the fight is going on between sellers and buyers. Going down further and passing the under pink rectangle zone would probably mark a strong validation of a declining price.
We have seen in the past strong downtrends stretching and erasing all seller by squeezing them up, to then, return again above the blue up trending slope. So beware of any surprise.
For the moment, we are observing this fight at the red line zone. It would probably better to look at the fight and jump on the spot with the winners. Possibility of easy trade and a profitable one.
Hint: the volumes are a bit down since few days, probably it is a good idea to follow up on any significant increase of them...
