Gold - short term sell & long term buy - forecast
Gold is on week chart again within big triangle after breaking down in 2018. Volume is getting lower and 1300 $ seems to be a strong resistance for gold. I expect a soon correction down to 1265 $ from there could start the next run up to 1340 $ if this support doesn't breaks. Weekly RSI is nearly heavy overbought which is a bearish indicator.
Stop loss for short position: above 1300
Take profits are drawn in the chart
Take a look at my first weekly gold analysis from August 18.
Good luck - don't forget to follow and like :)
Stop loss for short position: above 1300
Take profits are drawn in the chart
Take a look at my first weekly gold analysis from August 18.
Good luck - don't forget to follow and like :)
Trade active:
move stop loss to entry or above 1290
Trade closed manually:
closed with first signals from trend reversal
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
