Will Gold Push Down to 1150?
Hi All,
I've been refining my charts since my last post. Here's the new chart layout:
On Tuesday, Gold closed at the 8 day MA, having cracked the 6 day MA. Then on Wednesday, Gold broke below the 8 day MA. This usually means that price will continue on to the 21 day MA, which it did today.
Notice that the Stoch RSI has broken below the 80 line and is now moving down.
Will price now keep moving towards the lower BB in what I call a coast to coast trade? I'm holding on to my short for now.
I've been refining my charts since my last post. Here's the new chart layout:
- Red Bollinger Band with standard 2.0 STD and 20 day midline.
- 8 period MA - yellow line - *new
- 6 period MA - purple cross - *new
- Closing Price pushed out 5 days - *new
On Tuesday, Gold closed at the 8 day MA, having cracked the 6 day MA. Then on Wednesday, Gold broke below the 8 day MA. This usually means that price will continue on to the 21 day MA, which it did today.
Notice that the Stoch RSI has broken below the 80 line and is now moving down.
Will price now keep moving towards the lower BB in what I call a coast to coast trade? I'm holding on to my short for now.
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