Gold - It is getting really critical for bulls
Please see my last detailed analyses on the link below.
Now I just want to call attention for further bearish signs lining up!
Daily: DMI turning bearish, watch ADX from now as if that starts to climb, the bearish trend will gain momentum. The trendline and the horizontal key support is being attacked. Slow Stoch and MACD are bearish too. Future Kumo is bearish and Senkou-A started to point down. Tenkan Sen came under the Kumo, and more worrying that Chikou Span is below Kumo now.
4 Hrs: Kumo consolidation seems to end up in a bearish breakout again. DMI turns bearish, with ADX turning up. Tenka/Kijun bearish, Chikou under Price again. Bulls must protect 1275, otherwise it will be a quick break.
Weekly: this week is not yet over, but Chikou Span crosses bearish below Price candles. This weeks closing will be really critical! (further weekly analyses in the previous post)
There are lot of talks about India's festival season, and about September being a statistically bullish month for gold. We will see if this still works. Anyway, I rather trade on technicals, then on assumption about India's phisical gold take up... what if the jewelers already hedges their needs? 1275 is still the magic number to watch.
Now I just want to call attention for further bearish signs lining up!
Daily: DMI turning bearish, watch ADX from now as if that starts to climb, the bearish trend will gain momentum. The trendline and the horizontal key support is being attacked. Slow Stoch and MACD are bearish too. Future Kumo is bearish and Senkou-A started to point down. Tenkan Sen came under the Kumo, and more worrying that Chikou Span is below Kumo now.
4 Hrs: Kumo consolidation seems to end up in a bearish breakout again. DMI turns bearish, with ADX turning up. Tenka/Kijun bearish, Chikou under Price again. Bulls must protect 1275, otherwise it will be a quick break.
Weekly: this week is not yet over, but Chikou Span crosses bearish below Price candles. This weeks closing will be really critical! (further weekly analyses in the previous post)
There are lot of talks about India's festival season, and about September being a statistically bullish month for gold. We will see if this still works. Anyway, I rather trade on technicals, then on assumption about India's phisical gold take up... what if the jewelers already hedges their needs? 1275 is still the magic number to watch.
