Gold market update on 1D chart - how to trade

TVC:GOLD   CFDs on Gold (US$ / OZ)
Dear traders and followers,

welcome to the weekly DKIC Gold market update !

The market failed to break and close above 1905$ several times and is going now into a correction move to at least 1840-1850$ & 50 day EMA.
If the market break and close under this support area the next stop is near 1760$.
We closed our buy positions and opened some small short positions near 1900$.
We will close this short positions as soon the market confirmed 1850$ area as support.

The MACD & RSI indicators points to a further downward correction move as well.

Feel free to leave a comment or to share your ideas in the comments section
Please hit the like button if you share or like this idea.
Follow us and stay up to date/don't miss any new ideas
Thanks for your support !
moving as expected. Now looking for some consolidation between 1840-1850$ before open a long position.
Market dumped very strong after the FED meeting on Wednesday. Now looking for a consolidation at drawn support area before open any long position.

The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.