Gold has retrace 61.8 of precedent spike from 1313 to 1326. I think there's good opportunity to buy at 1320 with a SL at 1318 ; take profit can be 1330, even more high if gold breaks buntly this level..
We have a good reaction to the channel line. Wait until the hourly candle is complete, if it seems appropriate to buy, take profit may be the resistence of the channel or at least the return on 38.2 or 23.6% fibo retracement.
Buy Break out Resistance at 1263-1264 SL at 1250, Better Buy throwback if there's one with a Stop loss at 0. profit taking can be very high if the structure is valided by the market. look at the graph..
After 2 and a half months of rising gold Graphically I don't see right now shorting opportunity of this asset.. and I continue to look for entry points to strengthen me on gold. Does the Central Bank of the united states will be able to contain this rise ?
We'll see, but I doubt it. I think the correction in gold ...
Daily Analysis 4TH January 2016
-Collapse of the Chinese stock market
-Very strong tension between saudi arabia and iran
-Decline in activity in the US
-Rebound aborted Crude Oil
All these factors explain today 4TH Jan candlestick with a long green body and a long descent wick. bears have dominated the end of the ...
Technicaly i detected a falling wedge , According to me, this pattern has not been invalid yet.. And could be interesting to play bull
Let's see now how fondamental news of upcoming weeks can reenforce or invalid this scenario..
Next New farm Play-Roll publication etc..
Long at 1050-1060 stop loss at 1045.