mehdirez707

mehdirez707

To me it seems that we have an RSI divergence. It is an alert that we may face further decline in price. (The current decline doesn't seem to be enough). on the other hand we shall wait for the strongest candle of the day to judge.

mehdirez707

Price moves on this candle seems to be an important battle between sellers and buyers. We shall wait for the winners which will determine the next move. Keep your eye on this candle and volume.

mehdirez707

My attitude in recent analysis was rising of gold price, but now after 2 major decline after some positive news it seems that there is a tendency towards it in market mentality. Thus we shall consider a down ward move for price also and not to bet only on rising the price. I will be careful if price goes downward through a declining channel.

mehdirez707

I hope that the price will go up after touching the current support.

mehdirez707

The most probable move for me is a short fall and then moving upward through a new channel.

mehdirez707

A turning point; RSI breaking a major resistance. (It is 1740 $ resistance.). Prediction: It will cross the line powerfully.

mehdirez707

A short decline/rest and then a powerful move to break 1740 $ resistance is very probable.

mehdirez707

Now let's focus on 1 day time frame. If moves continue and price reaches 1800 then we shall check weekly time frame for possible downfall of the price. this will be very exciting if happens.

mehdirez707

Completely according to my previous prediction. We shall wait for the rest.

mehdirez707

More detailed.

mehdirez707

I think the overall trend is upward. We shall wait for the rest. It is possible if we have a jump at this place for an start towards 1800 for Gold.

mehdirez707 Updated 

It is possible to reach 1800 very soon.