London Session Watch - Gold

FX:XAUUSD   Gold Spot / U.S. Dollar
251 4 0
Gold             has been in a consolidation in todays             Asian session. The short term trend for this market is up as all the short term moving averages (10 and 20) have crossed above the long term moving averages (50,100 and 200) except that the 100 period moving averages is still below the 200 period moving averages. The current support level is at 1287.00 and resistance at 1296.00. There's also a down sloping trendline which could act as a confirmation line for going long. If price break this down slopping trendline , we may probably have a buying opportunity in today London session as the Stochastic and Commodity Channel Index ( CCI ) is showing oversold condition at current market price.
It let traders to know the volatility of the market and knowing not oscillators are showing the same thing is also an important things for heavy technical traders and the MACD could help traders who used it to identify trend if they use it.
how can you read so many indicators??
radoslaw.mazgaj vlad.adrian
I can write a whole book on that
vlad.adrian radoslaw.mazgaj
If that book ever comes out, send me a copy :)
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