Based on Fibonacci Extensions, gold has reached Potential Reversal Zone (PRZ) at 1452-1455. Furthermore, there are negative divergences on RSI & MACD for daily timeframe, which can hint about a short term reversal.
Also take a look at the weekly chart below. Gold has completed harmonic AB = CD pattern on the weekly chart. If gold reverses from the top at 1452, it...
Suggestion: SELL GOLD BELOW 1441 FOR 1428-30 WITH STOPLOSS RECENT HIGH ABV 1452( PROBABILITY 80-20)
ELSE BUY ABOVE 1453 FOR 1468/1470 WITH STOPLOSS BELOW 1440 (PROBABILITY 50-50)
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Gold has broken out of its resistance trend line (yellow doted line) which will soon be tested as new support.
On H4 TF there is bearish momentum on StochRSI and wave trend oscillator which will bring the price down again to the yellow doted line.
Bullish momentum on 1D TF has built up (see StochRSI, and bullish crosses on wave trend oscillator and MACD) which...
A very rare extremely bullish signal on the 1M chart of #Gold - a GOLDEN CROSS (50/100 MA) is approaching on Gold/EUR chart which will cross beginning or mid Sep 2019.
(Note: On the USD chart the cross will occur approximately 1/2 year later)
This is one of the biggest bullish signals and which can indicate an extended bull market for the next 10 years!...
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Now price is coming up to such a key resistance level, but we can see it has been respecting a strong trend line and is in a...