As per yeaterday analysis GOLD is moving perfect on it’s way to 1735. Currently price action is very slow as GOLD trend is sideways, it will take aggressive move in the middle of this week.
1750 is point where market can be judged. Price above 1750 is a potential reversal zone and if it’s down then bearish. But here it’s sideway between 1772 and 1745.
Now at present price is trading below the 9 periods EMA and 21 periods EMA as an indication of bearish market. The Relative Strength Index period 14 is at 30 levels with the signal line pointing Buy signal.
Manage your risk and trade at current situation.
Make sure to check out our analysis tomorrow and on Wednesday when we will share our longer term view on GOLD.
1750 is point where market can be judged. Price above 1750 is a potential reversal zone and if it’s down then bearish. But here it’s sideway between 1772 and 1745.
Now at present price is trading below the 9 periods EMA and 21 periods EMA as an indication of bearish market. The Relative Strength Index period 14 is at 30 levels with the signal line pointing Buy signal.
Manage your risk and trade at current situation.
Make sure to check out our analysis tomorrow and on Wednesday when we will share our longer term view on GOLD.