mcquak
Short

Gold has approched significant resitence level

FX:XAUUSD   Gold Spot / U.S. Dollar
274 1 0
Price has reached significant resistance around 1320. CCI is recently pretty overbought for some time and CCI is declining below +100 and is heading further down.
We can also see ascending triangle to be formed at significant resistance level .
In case resistance level at 1320 will hold we could see price decline down.
However we should take into the account that latest upside move was very strong and bulls could further overweight bears, CCI has declined below +100 couple of times during recent upside move and ascending triangle is bilateral pattern. So there is no 100% assurance that price will drop.
if a drawback than not lower than 1280! more likly to 1300 or it will even stay around 1310. there is much bullish pressure here and the USA markets are closded today. i prefer further up momentum.
Reply
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体
台灣
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out