The more that many traders have been cought on the wrong leg who will wait for better prices to sell their longs with less loss.
We took a long way down and due to the retracement and the cross resistance we may expect a continuation of the trend up now.
The price may turn up from here for a while. There is a window to be closed.
The rate is consolidating around the EMA 120. Here is also the cross of a previous entry signal and the parallell of the upward channel. May be there is a bottom building.
We are at a double resistance point here which gives us the chance to retrace the meantime upmove.
We are in an upward channel and holding obove the cloud. I consider the recent decline as acorrection and look for the resumtion of the upmpve.
As we saw the periodes passed the corrections were not very decisive. I expect the continuation of the uptrend soon.
We were coming from 95 $ in late 2014. Now we see an attempt to retest the highs of at least December 2015. The overall trend is down. If this backtest fails we may see a sharp fall.
We are moving down since April 7th. As we are close to the cloud we may assume that the break above the sshort channel may be difficult.
There is a steady trend. We are at the bottom of the channel at moment. Thus I assume a renewed move up next.
The price came up immediately after I had bought my gold back. As the scenario is still valid, somewhen the trend down should be resumed. I am taking the opportunity of this little resistance to resell the position.
It is an up and down but it looks to me as if the direction is clearly up. But we should expect some fluctuations.
But how large is the potential? As due to the rather slow momentum neither the orospects nor the danger are very high.
There has been a break above the EMA 120 which has been corrected now. Thus the move up may continue.
...in an uptrend. I don't see any resistance at moment.
The retracement of the upmove since yesterday evening may be finishing. In the short term we have a falling resistance line now which may be to hard to overcome. as the downtrend is intavt and has been corrected I prefer the continuation of the downmove from here already.
...unless it has hit the ground. Today's steep fall hit the monthly support. I guess that this may be a temporary bottom at least. So that I assume that we may see a correction up from here.