Congratulations to all the long-position holders! The Fed surely helped like a kid trying to keep a sheet of tissue up higher by continuously blowing it.
Weekly threads are getting stronger with gold breaking 1300 just now and trading just below the surface.
Daily: Momentum is building up. If bears do not attack soon, i'm afraid the bulls may have already finished building their fortress by the next week (Remember Brexit vote event might be where bears set up an ambush). We have reached a top again by touching 1300. will this be a double/triple top? Let the Brexit answer that one. Indicators seem like they are holding their breath by keep sucking up air into their chest. One slip of a breathe leak can stir off the bulls to the side.
Intraday: Yesterday I talked about a close below 1280 would trigger a short signal, but I did not mention its disclaimer (i.e. a close above 1283.80 - yesterday's pivot which, coincidentally, at the time of the hourly close above, also a close above intraday mid-bband, in addition to that the indicators almost dipped into water but managed to fly high again like a bird trying to catch a fish on the water surface and fly up again). Today we have so many volatility moves as BOJ is up next, eco data release from the Brits, EU, plus US CPI data.
At the moment, Asia seems to not dare to short.
Weekly threads are getting stronger with gold breaking 1300 just now and trading just below the surface.
Daily: Momentum is building up. If bears do not attack soon, i'm afraid the bulls may have already finished building their fortress by the next week (Remember Brexit vote event might be where bears set up an ambush). We have reached a top again by touching 1300. will this be a double/triple top? Let the Brexit answer that one. Indicators seem like they are holding their breath by keep sucking up air into their chest. One slip of a breathe leak can stir off the bulls to the side.
Intraday: Yesterday I talked about a close below 1280 would trigger a short signal, but I did not mention its disclaimer (i.e. a close above 1283.80 - yesterday's pivot which, coincidentally, at the time of the hourly close above, also a close above intraday mid-bband, in addition to that the indicators almost dipped into water but managed to fly high again like a bird trying to catch a fish on the water surface and fly up again). Today we have so many volatility moves as BOJ is up next, eco data release from the Brits, EU, plus US CPI data.
At the moment, Asia seems to not dare to short.
Comment:
Keeping note: Daily indicators are all in the overbought zone. a fail to make a higherclose / higher high, a first pressure may apply.
Another note from my lessons: in the weekly/monthly chart we can see, gold has an evil habit of letting us think that the recovery is good and the technicals look good, but unconfirmed. Then just below crucial resistances, it will smash lower and cathing the break-out chasers.
Another note from my lessons: in the weekly/monthly chart we can see, gold has an evil habit of letting us think that the recovery is good and the technicals look good, but unconfirmed. Then just below crucial resistances, it will smash lower and cathing the break-out chasers.
Asia managed (by not daring to short) to swallow the Weekly PSAR at 1296), not only that gold jumped to catch the WMA200 (1313.36). Not much to comment here other than that of strong momentum. And gold's mission to reach WMA200 (1313.36) flag (which happened to be Jan2015 high) has been accomplished. Question: Monthly MA50 (1327.27)?