We are under 200MA, in resistance zone.
We are at the bigger trendline from 1H TF and also we broke under the trendline from 15M TF.
There is small divergence on RSI.
You should wait for some bigger engulfing candle before entering short or even long.
I think there's a chance we can see gold going up again. I know that situation now is more fundamental than technical when talking about analysis but I think gold could be retesting the upper side of the broken triangle. Also 1700 is important price psychically and on this price there's the biggest volume of trades on volume profile. All these things combined with...
We can see that today we had retest of broken trendline from last week and it held as new support. We all know that gold is another level and it can happen that tommorrow nothing of this matters but I think that we can expect some bounce back to the resistance trendline from daily TF and with right momentum we can go even higher, considering economic condition in US.
We can see that we've reached top of the channel which is respected for some time. Also we can expect some pull back after this big pull up, so I think there is possible that we can retest 10900 level which would be also the bottom of the channel. We shall see.
If we close 4H candle above cca 8710 and create doji, I think we can bounce from trendline and visit 8900. Nasdaq is in way better shape than dow or s&p, so I think it's possible. Then we shall see if we break resistance on 8950 or we will go down. Time will show.
Altough there are still new corona virus cases, it seems that fear of it is still decreasing and things are getting under control. (We all know that aren't) We might see some long chances before crisis and another drops.
