* I call Stan Weinstein’s 30MA my most definitive MA line because this is the level where breakouts take place as Stage 1 transients to Stage 2.
* As long as price point remains above the 30MA, the counter will stay in an uptrend and according to Stan Weinstein, we should continue to hold position provided it is is an uptrend. However, if the price point dips...
Looking at gold it seems to be following a downward channel. Fib was used and it showed a 0.7 retracement from the current lower high.
30 ma also shows a cross over in the 4hr and below timeframe so this is another indication that sellers are in control.