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GOLD: week starting Feb 25th

TVC:GOLD   CFDs on Gold (US$ / OZ)
Hi Guys,

arising tensions in Venezuela may escalate following the event organized at the border with Colombia.
I hope things won't get out of hand but if they do, Gold will probably exceed B.

The above chart has been divided in weeks. Vertical lines represent the start and the end of the weeks. The end of next week is marked with finish flags.

During the week starting from Jan 27 price made a high at 1327 after the FOMC Meeting held on Jan 29-30.

In the next 2 weeks that followed, Gold was supported by the 400SMA and moved horizontally before taking off again to make B at 1347.

The high made on Jan 31 was breached last Monday, Feb 18. Price broke the blue horizontal line at beginning of the week, made B mid-week, and closed the week with a re-test of the same blue line. Almost on the 400SMA again, almost at the same level of last high at 1327.

After making B price retraced 50% of the A to B move making a double bottom in divergence with RSI .

Following are five big themes likely to dominate thinking of investors and traders in the coming week and the Reuters stories related to them.
https://uk.reuters.com/article/uk-global...

What is your view? If you have already posted an Idea on GOLD please put the link in the comments below.

Thank you for your support and for sharing your ideas.

Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.



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