"Bling Bling " = Gold, dated 28 December 2019
Hi all,
Thanks for reading my post (in advance).
For the very very few that may interested, this is my take on gold currently.
You will see my gold chart posted below (daily chart).
Some key observations i note:
- Price appears to be going higher (i know what you are thinking,... it is pretty obvious)
- 61.8 fib price level approaching (approx 1,514). I understand and acknowledge many don't value Fibonacci and that is OK. Whether it is horse**it or not, i am noting it down
XAUUSD.
- October 2019 high resistance (approx 1,520).
- November 2019 high which also may be acting as resistance (possibly) @ 1,518 approx.
- Noted high momentum (RSI) as momentum within " overbought " levels - make of that what you will.
A clear break of 1,520/1,530 area on the daily would in my humble and average mind possibly trigger further upside. Of course, i could be wrong. Let's see if we break these noted key resistance levels.
In the interim, i will be watching the quicker time frames to see if any further clues arise.
Kind regards,
bazzman78tv
Thanks for reading my post (in advance).
For the very very few that may interested, this is my take on gold currently.
You will see my gold chart posted below (daily chart).
Some key observations i note:
- Price appears to be going higher (i know what you are thinking,... it is pretty obvious)
- 61.8 fib price level approaching (approx 1,514). I understand and acknowledge many don't value Fibonacci and that is OK. Whether it is horse**it or not, i am noting it down
XAUUSD.- October 2019 high resistance (approx 1,520).
- November 2019 high which also may be acting as resistance (possibly) @ 1,518 approx.
- Noted high momentum (RSI) as momentum within " overbought " levels - make of that what you will.
A clear break of 1,520/1,530 area on the daily would in my humble and average mind possibly trigger further upside. Of course, i could be wrong. Let's see if we break these noted key resistance levels.
In the interim, i will be watching the quicker time frames to see if any further clues arise.
Kind regards,
bazzman78tv
bazzman78tv
Updated December 2021
Updated December 2021
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