Gold has
had a very good bullish trend, but once it broke above the 55 day EMA, it
consolidates above that moving average and below the 200 day EMA, blue line.
The price of gold also stays above the 1200 level and it could try to reach the
200 day EMA, which could act as resistance. In case gold breaks above the 200
day EMA, then the road is clear to the 1300 level. To the downside, below the
55 day EMA, purple line, the price of gold could try to go and visit again the
low at the 1122 level, but we must keep in mind that any of the lows on the
daily candles could act as support.
Very helpful analysis.
ReplyDeleteThat's good to know, thanks.
ReplyDeleteIt's moving to the downside for the moment.
ReplyDeleteIn fact a lot of noise!
ReplyDeleteValuable information.
ReplyDeleteVery accurate analysis!
ReplyDeleteGreat observation!
ReplyDeleteGood post. Very helpful.
ReplyDeleteInformative review!
ReplyDelete