50-day MA breakout just happened. Good support and possible good target for long represented by the green circle area.
Technicals for support theory
This is a follow-up of the following idea (published on Sept 7th)
![[GOLD] Hope for the best but be prepared for the worst](https://s3.tradingview.com/y/Y3peAxER_mid.png)
This is my own research and not intended as financial advice.
Technicals for support theory
- The 200-day MA and fib. retracement levels: 0.5 - 0.618
- Area with high volume (VP)
- Still way to go to RSI 30 (like in March)
This is a follow-up of the following idea (published on Sept 7th)
This is my own research and not intended as financial advice.
Note
New low has been printed compared with the low of 2 days ago which broke the 50-day MA.Note
Not a matter of if but when.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.