Friday's Analysis for M & T Plausible Gold Trends ???

Two things on Last Friday's Gold Chart that are note worthy :
1st) Big Orange Arrow pointing too golds rebound of last 3 hourly candles and it is kissing the lower arm MA is bullish in nature.
2nd) is the Stoch/Rsi ellipsed showing up lifting is bullish in nature.
For now Monday morning is bullish looking forward from this data.
Reposted from Yesterday chart. (The Dxy failed to make it back up past $93.5 level & USD/JPY failed to regain past it's $106 level, is a strong indicator that Gold has not Quite developed a bearish trend yet we will watch Monday & Tuesday for any indication of Gold's furthering weakening while also keeping an eye out on currency strengths and or weaknesses.) This is also Bullish in nature.
I put this chart as neutral because there is no allowance for explanation's of why if there were, i'd Label it as Short. BEcause Trading is not Black & White by Definition, if it were we have a lot more winning trades then losing trades, but sorry that ain't the case!

Comment:

Remember this is only a hourly chart and will give you possibilities of Golds very near term price action ! :-)
Yes i said Monday Morning is Forward thinKing bullishness in nature but that can change in the PreMarket hours to bearishness in nature. If a EuropeanCentralBank or the IMf were too decide to change their interest banking policies that would change Gold's Bull Herd mentality in a Blink of an eye.

Comment:

Yes as i posted previously during market hours our very on policy makers can and have influenced our markets. Just in the last three weeks we have heard from old MCDonald on multiple occasions about how he made America great again. We also heard from the Dumbocrats about our welfare dealing with the next rescue packages that have been delayed for a second time. We heard from C.O.S. Meadows rebuking the Dumbocrats on thier stalling tactics. Yes traders unfortunately Fundamentals of political drama plays a big role in all markets not just PM market ! :-( So always keep these things in mind when you make a trade. :-)

Comment:

Hear This!:-) Here is my trading plan i have not seen enough evidence that Golds price action is Bullish or Bearish short term !/? But i have seen enough evidence that the prime Metals are still suffering from negative divergencies to keep me out any short term trades, either long or short because risk reward just is'nt there ! Patient's is the Key! Do not move until you see it!

Comment:

****New NEWS !!!*** 2:00 pm 8/8/2020 If i heard this right the Dubocrats have left town without a relief or Stimulus Package and want be back for a long while !!!

New News about the Dumbocrats
leaving Washington without giving needy Americans some relief, just thier self serving political agenda's !! :-)

Will Gold follow The DowDown since it followed the Dowup , i believe its very likely to do soo !!

Comment:

"The Senate canceled recess to work at breakneck speed because people need help now. Pelosi waltzes in after the (House has been on a week long vacation) and says they’re going to do their own thing and the Senate’s Monday urgency is arbitrary. Just wild," he tweeted.
Yes Nasty Nancy the leader of the house Dubocrates ready for their on thing of pork bellies full of self service agenda's for themselves and lobbyist and Friends not to facilitate help for the American people that are in distress from fallout of virus zone. Why would they break for recess to begin with when the majority of US is in dire straits ???

Comment:

Correction of error in above comment that's DUMBOCRATES Sorry for the typo >

Comment:

Currencies that influence Pm has shot up, this will put pressure on Gold & Silver today to say the least.

Comment:

Repost Yes we will watch Monday & Tuesday for any indication of Gold's furthering weakening while also keeping an eye out on currency strengths and or weaknesses.)

Comment:

2 hours ago
Comment: Currencies that influence Pm has shot up, this will put pressure on Gold & Silver today to say the least.
Yes these Currencies i mentioned earlier have since paired most of their gains witch is bullish for PRime Metals such as Silver & Gold !

Comment:

Gold is suffering a negative divergence once again, no buying for now! Yes golds younger sister Silver is still buy able but i recommend not buying at this time and wait for a much more stable entry point. Even short position's at present are weak and not worthy of a buy either. If you are short in a position hold on to them until common sense and logic dictates otherwise? t
The risk reward ratio are out of kilter because of a multitude of reason's waiting for a more prudent entry is the intelligent thing to do at present !! As always Good & Fruitful trading! :-)