GOLD: 2019 WoW
Updated
Hi Guys,
GOLD entered 2019 bullish driven by the fall in stock markets. It was supported in week1 and week3 before continuing for higher highs. In week7 Gold made a top at 1346. The pullback was supported in week9 at same level of week1 and week3. SMAs support the uptrend and now Gold is squeezed between the two SMAs.
AToW IMHO Gold maybe set for a run above 1310 in week11 but unfortunately I am not a fortune-teller and need to wait to follow. On the other hand, if supportive trendline is breached Gold may lose support at 1278 and fall.
Thank you for your support and for sharing your ideas.
Don't forget to put a like if you appreciate the post and to follow me if you want to receive notifications on new and updated ideas.
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
GOLD entered 2019 bullish driven by the fall in stock markets. It was supported in week1 and week3 before continuing for higher highs. In week7 Gold made a top at 1346. The pullback was supported in week9 at same level of week1 and week3. SMAs support the uptrend and now Gold is squeezed between the two SMAs.
AToW IMHO Gold maybe set for a run above 1310 in week11 but unfortunately I am not a fortune-teller and need to wait to follow. On the other hand, if supportive trendline is breached Gold may lose support at 1278 and fall.
Thank you for your support and for sharing your ideas.
Don't forget to put a like if you appreciate the post and to follow me if you want to receive notifications on new and updated ideas.
Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
Note
Below the Daily Chart. I will post the screenshot and follow with comments...Note
Since the beginning of the year price diverged with RSI. At the beginning of March Gold pulled back from H to find support below 50SMA and 50RSI at same level of January support. The bull run commenced back in August 2018 may have topped at H but is still on. Interesting opportunities may arise between 1280 and 166SMA going down or above 1325 going up.
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