pixi

Weekly 31 SMA is Back

FX:XAUUSD   Gold / U.S. Dollar
256 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.
Trade active
You went log yesterday, right?
Reply
long
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
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