Gold seems to be testing back the breakdown level (and the 100 EMA) on the hourly chart.
After Monday's monster move down we needed some kind of consolidation.
This level should hold now as the dollar continues its rally.
We have to get prepared for the dip buyers. The big funds will be positioning on this way down for a long term hold (3-4 years) in gold. They might come out of the shadow and start to buy at every oversold point of the chart.
After Monday's monster move down we needed some kind of consolidation.
This level should hold now as the dollar continues its rally.
We have to get prepared for the dip buyers. The big funds will be positioning on this way down for a long term hold (3-4 years) in gold. They might come out of the shadow and start to buy at every oversold point of the chart.
Note
The volume of the last 16 hours of "rally" very low. I'm still thinking that it's a only testback or a fakeout move. The next 4 hrs candle's volume will be the big volume. Let's see what's happening there.Note
With the weakening dollar gold should have rallied much much more today.I see internal weakness in gold. And DUST almost in 0...
Holding all XAUUSD short positions and DUST long positions.
Note
We are in a critical zone now. If we break down the 1270 level I think the chance is very high that the backtest is done and we are heading down...Note
Again...Could someone sell into this 100.000 contracts please to break it down?
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Thanx!Note
I'm watching this channel now:Note
Miners are not buying this gold pop: DUST +6.5%
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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.