InvestingScope
Short

XAUUSD: Sell opportunity within the Channel Up.

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
Gold completed yesterday's aggressive rise with a Higher High on the newly emerged 4H Channel Up ( RSI = 62.645, MACD = 22.260, ADX = 58.024) at 1,642. This was a 0.786 Fibonacci retracement from the 1,703 High. The technical pull back level for a Higher Low is on the 0.618 Fib retracement which is at 1,526 and where the MA50 may support. If broken we can see the symmetrical touch on the 0.786 level near 1,495.

Our previous buy trade:





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Comments

we will see, this is my view on it
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In the risk-on times, just a few weeks ago, the idea would probably still have been right, but investors are switching to risk-off mode. There is also a huge difference between physically deliverable gold and the gold futureres.
The former is nowhere to be found, delivery times are several weeks and months, the latter may soon explode when the first holders start terminating their contracts in physical delivery as opposed to cash settlement.
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hi . dose spread in your broker increase?
if yes, how many?
Reply
bghaemi davoud-ahmadnejad
@davoud-ahmadnejad, A lot, fluctuating between 150~500 points
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