M-Top pattern remains a concern.
💡 A bearish bias is applicable below 1031 Downside target (LIKELY): 1008 Upside target (UNLIKELY): 1048 Downside price momentum supports the bearish trend. RSI is at 64. Will the price action repeat the previous move? See the red rectangles.
💡 A BULLISH bias (bearish for equities) is applicable above 22.41 Upside target (LIKELY): 23.88 Downside target (UNLIKELY): 20.91 Upside price momentum supports the bullish trend. RSI is at 46.
💡 A BULLISH bias is applicable above 1837 (testing this level). Upside target (LIKELY): 1849 Downside target (UNLIKELY): 1825 Downside price momentum remains a concern to the bullish trend. RSI is at 47. Gold price can push to $2,200 as markets drunk on liquidity won't sober up in 2021 - Wells Fargo
Temporary correction might be unfolding.
MACD crossover might support upside potential.
Break above R163.50 will change my view.
Improved bullish confluence of technical indicators
Lack of upside price momentum remains a concern. The previous idea was stopped out.
Improving bearish bias unfolding.
Further bearish bias lurking.
Potential bearish MACD crossover remains a major concern.
The 200-day might act as major support. The angle of the trend too flat. Oversold.
Breaking away from the upper range of the Bollinger Bands. Downside price momentum supports a bearish stance.
Evening star Japanese candlestick might confirm a bearish stance. At some major resistance. Downside price momentum supports the bearish stance.