Here I have posted a chart on gold... A LONG TERM VISION. Daily gold trend is still intact however what concerns me is that 4 hour time frame has flipped bearish. This may not be a problem as gold is being supported heavily by the 50 day moving average as well as the KUMO cloud. I am currently on the sidelines we should get a clearer vision of the future as the FOMC meeting is an hour from now. Let's see if we crash below $1,450 or does this break the strong weekly resistance zone at $1,550.....
Note
4 Hour TimeFrame is now bullish.... Therefore FULL SEND TO $1,600
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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.