Before the gold market opens on Monday, let's discuss to determine the next price movement ...
It starts with daily time frame;
1 Stoc RSI indicator crossline and shows upward movement
2 The MACD indicator shows an upward movement and a positive formed histogram
3 WPR shows upward movement
4 Prices are above EMA8, EMA13, EMA26 and EMA55
5 Prices are above MA50 and MA100
6 Support levels are at prices 1692 - 1703
7 Resistance 1 is at the price of 1755 - 1763
8 Resistance 2 is at the price of 1790 - 1802
9 Resistance 3 is at the price of 1832 - 1843
*** Bonus if the price continues to rise will face resistance from 1899 - 1919
It's just that on the parabolic SAR indicator, the price correction will occur before rising ...
The question is to what extent is the price corrected?
To answer this question we will look at the 4H time frame:
1 Stoc RSI, MACD and WPR indicators show price movements going down
2 Support for this timeframe is in 1715-1710 where the positions are MA50 and EMA26
3 Resistance for this timeframe is in 1734 - 1740
Please discuss with me through the comments column!
Disclaimer!
Only for discussion purposes and does not constitute financial advice. Your own analysis is needed when trading and is your responsibility !
It starts with daily time frame;
1 Stoc RSI indicator crossline and shows upward movement
2 The MACD indicator shows an upward movement and a positive formed histogram
3 WPR shows upward movement
4 Prices are above EMA8, EMA13, EMA26 and EMA55
5 Prices are above MA50 and MA100
6 Support levels are at prices 1692 - 1703
7 Resistance 1 is at the price of 1755 - 1763
8 Resistance 2 is at the price of 1790 - 1802
9 Resistance 3 is at the price of 1832 - 1843
*** Bonus if the price continues to rise will face resistance from 1899 - 1919
It's just that on the parabolic SAR indicator, the price correction will occur before rising ...
The question is to what extent is the price corrected?
To answer this question we will look at the 4H time frame:
1 Stoc RSI, MACD and WPR indicators show price movements going down
2 Support for this timeframe is in 1715-1710 where the positions are MA50 and EMA26
3 Resistance for this timeframe is in 1734 - 1740
Please discuss with me through the comments column!
Disclaimer!
Only for discussion purposes and does not constitute financial advice. Your own analysis is needed when trading and is your responsibility !