Kumowizard

Gold - Risk off, Risk on. Short term it is a sell again.

Short
FX:XAUUSD   Gold Spot / U.S. Dollar
Daily: Despite recent push up in Gold px, it is still trading below the Kumo. Actually looks like we saw the Kumo retest and it is truning down now from the Kumo bottom. Slow Stoch gives a sell signal too. Most likely it will go down to 1294 or maybe even to 1280 again. I think for some more time Gold will stay in this range of 1275 - 1320 (maybe 1330 top side), and px action will clearly follow the risk on - risk off newsflow. When equities up gold is down, when equities come under pressure on back of Ukraine story, Gold becomes bid again.

4 Hrs: DMI and Slow Stoch sell signals. Supports at 1294 and 1287.

1 Hr: DMI, Slow Stoch, and Tenkan/Kijun cross sell signal, but the cloud is thick, which gives 1294 bottom even more importance.

Hard to trade now, but if you were long by any chance, maybe it is better to lock profit here ard 1304-1308.

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