July 25, 2019 Gold generated an negative engulfing bar in the prices.
While this bar is counter-trend within a consolidation zone between 1383 - 1452. It does bring a small amount of concern as the 21 Trend MA is catching up to the prices.
This price projection is looking for 1400. Which if closing below 1409 (the value of the trend MA) would be demonstrating the weakening of this bull rush.
The price high on July 19 didn't generate new highs in the RSIs. This demonstrates a weakening in the underlying prices.
Daily price projection for: 1400
HMA indicators: Cover Long (since July 22)
5 RSI: Negative (Bear) territory
Bear RSI: In neutral territory
Bull RSI: still in bull territory but heading into neutral.
BSI: nearing zero line but still above in bull territory.
While this bar is counter-trend within a consolidation zone between 1383 - 1452. It does bring a small amount of concern as the 21 Trend MA is catching up to the prices.
This price projection is looking for 1400. Which if closing below 1409 (the value of the trend MA) would be demonstrating the weakening of this bull rush.
The price high on July 19 didn't generate new highs in the RSIs. This demonstrates a weakening in the underlying prices.
Daily price projection for: 1400
HMA indicators: Cover Long (since July 22)
5 RSI: Negative (Bear) territory
Bear RSI: In neutral territory
Bull RSI: still in bull territory but heading into neutral.
BSI: nearing zero line but still above in bull territory.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.