pixi

Weekly 31 SMA is Back

FX:XAUUSD   Gold Spot / U.S. Dollar
264 2 14
Hi,

The weekly 31 SMA was a great support during the last bull rally of gold             .
This SMA has turned bearish in 2013 and since early 2016, it became bullish .
Imo             , this SMA could be tested in the next couple of hours.

This SMA stands at 1275$ for this week.

Gold             should be under pressure until NFP (September, 2) and 1275$ is "only" 30$ from its current price.

There’s also a confluence with a likely pullback of the previous bearish channel .

1275$ is 100$ drop from the top done in july, i like round numbers.

So, i’m bearish until this point to "play" a bounce or a bullish continuation move and super bearish if gold             passes through this key level.
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You went log yesterday, right?
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