Hi TView Friends, Here is the update analysis for Gold / US Dollar.
In Fundamental ,
GLD investors have pulled out a net withdrawal of USD496 million last Friday as dollar regains strength. The eased trade tensions has also prompted investors out of safe-have assets such as gold
Within last week, the cash pulled out totaled to around $720 million.
Today marks the 4th consecutive day of chopped spot price of gold, but, yesterday, we have seen the price bounced a bit.
In the daily timeframe chart, we can observe the ABC pattern with two pullbacks, indicating the price of gold is still in the uptrend since the gold has not yet reached the maximum support level at $1,276.79. I have set a possible test support at $1,265.87 for a price repossession if the price managed to reach the maximum support.
Moving average 100 is $18 away from the present value.
StochRSI is placed below the 10 mark, proposing a bullish trend.
Cheers
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In Fundamental ,
GLD investors have pulled out a net withdrawal of USD496 million last Friday as dollar regains strength. The eased trade tensions has also prompted investors out of safe-have assets such as gold
Within last week, the cash pulled out totaled to around $720 million.
Today marks the 4th consecutive day of chopped spot price of gold, but, yesterday, we have seen the price bounced a bit.
In the daily timeframe chart, we can observe the ABC pattern with two pullbacks, indicating the price of gold is still in the uptrend since the gold has not yet reached the maximum support level at $1,276.79. I have set a possible test support at $1,265.87 for a price repossession if the price managed to reach the maximum support.
Moving average 100 is $18 away from the present value.
StochRSI is placed below the 10 mark, proposing a bullish trend.
Cheers
Hit Like and Follow