Gold tried lower levels @ $ 1,980 and now we are back to a week back levels. The RSI is weak overbought for most time frames, but slightly positive on short-term charts. This does no9t negate my view, but think we are neutral current levels (as we are already short since $ 2,040s and $ 2,015 and $ 1,994 on my updates provided.
For now, we SELL only @ $ 2,038 and stop-loss should be within the apex, which has resistance @ $ 2,043 area, so stop-loss let's say @ $ 2,054. Medium term we are seller above $ 2,065-HKEX:2,080.
Profit objective still $ 1,927 area.
Comment
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stop-loss was executed @ $ 2,054 but re-sell again same price $ 2,054. I had wrong price stated.
@akshaygarg113, it will not be a quick move. medium-term perhaps coming weeks to max. 3 months. it is difficult to say of course in terms of time frame. tc
akshaygarg113
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not possible...👎👎
peterbokma
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@akshaygarg113, wrong price typed. thanks for telling me. I was short-same price @ 2,054 and not $ 2,074 which was never that high. tc