1. GOLD very nice technical bounce off support:
-Monthly RS(going back to 2012)
-D Oversold RSI
-Converging trendlines from Daily structure formed
2. Currently gold is at resistance
-D RS=1863
-W 8 and 21 EMA's (yellow and blue lines)
3. If the resistance breaks (we close above it) then next resistance is at
- 2011 ATH1921
- and top of a D parallel channel forming
Bulls want to top out somewhere, then find a Weekly Higher low, and then change Weekly trend back to uptrend for bull continuation
Good time to start building position but thers no hurry as we are still in this D channel
and until we break bull out of it, there wont be a crazy move
-Monthly RS(going back to 2012)
-D Oversold RSI
-Converging trendlines from Daily structure formed
2. Currently gold is at resistance
-D RS=1863
-W 8 and 21 EMA's (yellow and blue lines)
3. If the resistance breaks (we close above it) then next resistance is at
- 2011 ATH1921
- and top of a D parallel channel forming
Bulls want to top out somewhere, then find a Weekly Higher low, and then change Weekly trend back to uptrend for bull continuation
Good time to start building position but thers no hurry as we are still in this D channel
and until we break bull out of it, there wont be a crazy move
Stop loss in
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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.
Stop loss in
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.