MJDombi

History Doesn't Always Repeat. GOLD Bull Flag Could Break Up.

TVC:GOLD   CFDs on Gold (US$ / OZ)
This is an update on a previous analysis. Since a higher low than the 2016 comparison will likely occur today, my 2016 comparison is not as strong. While my daily close below 1311 held strong and has yet to occur, I have moved my short order limits in respect to a bull flag formation. Since this is a bull flag that appears to have more strength than 2016, I will now use extra caution when shorting and only short if a daily close completes below the red trend line and the RSI is still above 30. With the same respect to the stronger bull flag , I will take a more bullish stance and consider a long position if the RSI is below 80 and a daily close occurs above the green trend line instead of the 1367 limit I had in place before.

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