TipTVFinance

Gold – Awaits breakout

TVC:GOLD   GOLD (US$/OZ)
Gold             has been restricted to a narrow trading range of $1248-$1262 for five days now. As of now, the probability of a downside/upside break appears 50-50.

We have had bullish price RSI divergence…but the follow through has been weak. Furthermore, Yellen is more likely to come out hawkish than dovish later today. Thus the metal could revisit last week’s low around $1240.

On the other hand, daily MACD shows loss of bearish momentum, hence a potential for a strong rebound from $1253 (23.6% Fibo of 2011 high – 2015 low) exists.

Overall, bears would need a daily close below $1240, while bulls are likely to pounce on any opportunity above $1262.
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
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