After the spot gold 
GOLD spiked to a high of $2,072... we note that 'The move to $2,072 lacks momentum as can be seen in the barely positive daily MACD'.
However, we emphasize that spotGOLD 'is likely to move higher towards the top of the rising wedge near $2,100 before the risk of a reversal increases'. We added, 'If spot GOLD dips below $2,020, it will most likely test $1,963'.
However, spotGOLD must break the daily Ichimoku bottom support, currently at $1,920, before it can weaken towards $1,870 (current level of the 55-week exponential moving average).
The risk of spot gold breaking clearly below $1,920 will remain intact over the next month or so as long as it doesn't move above the top of the daily Ichimoku cloud, currently at $1,992.
I expect gold to collapse from 1970 and we will sellGOLD
Stoploss: 1975
The level I expect GOLD to return is 1965$, 1960$, 1955$
I hope everything goes according to plan and you make a lot of money.
GOLD spiked to a high of $2,072... we note that 'The move to $2,072 lacks momentum as can be seen in the barely positive daily MACD'.However, we emphasize that spot
GOLD 'is likely to move higher towards the top of the rising wedge near $2,100 before the risk of a reversal increases'. We added, 'If spot GOLD dips below $2,020, it will most likely test $1,963'.However, spot
GOLD must break the daily Ichimoku bottom support, currently at $1,920, before it can weaken towards $1,870 (current level of the 55-week exponential moving average).The risk of spot gold breaking clearly below $1,920 will remain intact over the next month or so as long as it doesn't move above the top of the daily Ichimoku cloud, currently at $1,992.
I expect gold to collapse from 1970 and we will sell
GOLD Stoploss: 1975
The level I expect GOLD to return is 1965$, 1960$, 1955$
I hope everything goes according to plan and you make a lot of money.
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Related publications
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.