CitRoN_RouGe

Gold – Maybe time for a squeeze…

Long
FX:XAUUSD   Gold Spot / U.S. Dollar
Looking at EMA lines, an EMA10-EMA25 cross is forming on daily chart with a nice double basing.
Downtrend formation seems to be broken on the daily chart (not on the weekly yet) and price approaches EMA50 for the first time since 1300.

RSI is about to break 50 in upward direction.
Stochastic is moving up with a strong return around 50.
Momentum indicator is also pointing a rise.

So why not see a squeeze up to level 1220 to start an upward leg? Even maybe today…

Comments

HIIIIIII i have missed u dear .....
Reply
CitRoN_RouGe elahe_mrh
@elahe_mrh, Nice to be back...
Reply
with some positive datas regarding US economy in the pipe, personally I have some doubts about the Squeeeeze
Reply
CitRoN_RouGe NicolasCoppens