GC has been oscillate btw 1200-1220. Recent two day's rally is largely due to FOMC remained interest rates constant and that drives Gold higher + the uncertainty that Trump will bring on H1B policy. Expect to see GC back to 1205-1210 again in couple few days.
Bullish recovery in Gold so far on the week. Price was able to get back up to the double top cluster area where we now have a potential triple top in play. Non farm # today should help determine if that triple top holds or not. Buying a dip looks to be the most attractive play at the moment.
Gold pushed up past the 1220 resistance level for the 3rd time since the start of the year, only to be met with strong resistance and falling back under 1220 to be within the range from 1182 - 1220. While I am still long, the upper wick on today's candle is not the most encouraging for the bulls. On the bullish side, price is still above the 6, 8 and 21 day...
long on gold to 1240, retrace at 1225 on 1d TF, 4H TF support at 1210, 30m possible entry at 1213
Gold started the day with a big selloff but then recovered after the FOMC and Janet Yellen announced that they would not be raising interest rates at this time. Gold is now attempting to break out of a potential triple top at $1220. If Gold can break through, then the first target would be 1241.7, the .618 fib extention from the bull run that started at the end of...
Strong wick formed during Wednesday's trade. The momentum is clearly to the upside. I suspect there will be some resistance as prices move back into the double top cluster area. A short in the 1220-1225 range might be a decent play but overall I wouldn't bet on the area holding as I don't trust triple tops/bottoms.
Following a possible cypher pattern in the hourly. Gold bounced from 1180 and reversed with strength. Expecting a bullish movement next week. Lets see if it completes.
Gold back near the zone where the double top resistance clusters formed. Might be an asteroid belt of some sort but triple tops/bottoms are generally a 50/50 bet. Momentum is to upside w/ trendline area as support. A short in the upper percentile of the cluster area might be worth a shot.
Been doing all evening and half way into the night so will fill this out with details and sources/references tomorrow, but wanted to publish so I can send link to friends.... Stay Tuned. (If you see mistakes - Even Spelling, please comment)
Gold rose ~15 points today and broke through the 6 and 8 day moving average. It also broke through the trend line starting back on election night, Nov 8. Price also failed to break below the mid line of the Bollinger Band. The next resistance level is at 1220 so let's see if Gold can move up and past it. Look at the Heikin Ashi chart below. 2 days ago there was a...
Just ride the channels. I could see the upside gain some steam. Especially if the stock high from Thursday, remains THEE high.
Many indicators are giving the same signal and the same zone as buy zone. They are: the Fibonacci retracements are conjuncted, moreover they are conjuncted on a zone where there are many support zones; RSI is giving a bullish signal as well. Furthermore, EMA 55 and EMA 21 Support and Resistance zone rejected the price. I am pretty convinced that there is a...
Not quite high enough for me for an intra day short play but perhaps a dip will present itself as a buy. Follow the wicks and Friday's daily chart left a nice one. I'd like to take a long play, if things line up, within that wick range (82-90). Things seem a bit shaky in the world.