nmike

GOLD weekly update

929 3 8
Gold             is still in a down trend and below the 34 MA. At this point I would say that Gold             is NEUTRAL.We have a triple bottom at key support with last week's candle having a long lower shadow.Higher volume last few bars could also mean accumulation. If the TRIX keeps rising GOLD             could find it's way to top of channel near term.Let's also keep an eye on the long term FISHER (100). FISHER(100) above mid-point could signal a major shift in trend.
update....GOLD did not hold at KEY support, now KEY support becomes KEY
resistance.Possible near term downside target to bottom of channel. Further downside if GOLD breaks channel support.
Reply
next support is at the .5 FIB level https://www.tradingview.com/e/YKyoNpCp/
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out