TipTVFinance

Gold’s romance with 200-DMA continues…

TVC:GOLD   GOLD (US$/OZ)
Gold             is flirting with 200-DMA Oct             19. We had two daily close above 200-DMA so far – one on Oct             19 and other one on Oct             25. On both the occasions, the follow through was absent…prices immediately fell back below 200-DMA.

Prices were rejected at 200-DMA yesterday and earlier in Asia as well. The 200-DMA is no longer sloping upwards.

Overall, the price action suggests gold’s love affair with 200-DMA is about to end, Prices appear more likely that not to revisit support $1253 (38.2% of 2011 high—2015).
Hi
Likely to go higher? If not likely to visit support?
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TipTVFinance stockbroker68
more likely to go down, given the repeated failure at 200-DMA
+1 Reply
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