If the MA's crossover in the Gold Box of pain, on my Gold chart could signify taking out the $1900's into the lower $1800's. This is depicted on a daily chart that would be a very strong short indicator ! Today's candle is a solid bearish engulfing signal!
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i believe at the conclusion of toady's trading on an hourly time frame cycle we have LH / LL for a 4day cycle that probably signifies that a new Bearish trend has formed. Keeping an eye on DXY making sure it keeps rising would be a good idicator for the time being to know if Gold is really still trending bearishly while waiting for a possible crossover ! With this said there is still Asia markets to contend with and is highly probable that the MA crossover could happen tonight then a minor corRection from the Means would be in play !!! :-)
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Yes a MA Crossover has developed so keeping eye on dxy from here to watch where Gold price goes when the Dxy falls & rises but right now this minute Gold price moves are in a serious Bearish trend Shorting would be good on the morrow unless anything that might happen to drive down the currencies that affect Gold's fall barring a natural disaster or man made financial change in world a banking system or the Dumbocrats doing somthing very stupid in Washington ie...
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Yes Gold is up a little off it's lows because of the Job's Report Data spurning down the Dxy Jyp trade's i believe this only temporary this morning i posted my hourly Gold chart to compare with my daily Gold chart ! :-)
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i have an houly chart posted !
i have an houly chart posted !
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Gold did break my gold trend line earlier this hour put since has pared the recent loss !
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if Gold can rebreach the Gold trendline $1913 on my Gold Chart & stay there it would be a Fresh Bearish forming trend ! :-)