DK_Investment_Consulting

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.

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Comment: moving as expected. Now looking for some consolidation between 1840-1850$ before open a long position.
Comment: Market dumped very strong after the FED meeting on Wednesday. Now looking for a consolidation at drawn support area before open any long position.


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