Thursday, January 25, 2018
Gold is still in an uptrend
Gold
has been behaving very well lately and has kept its bullish trend as shown on
the daily chart. The drop of the US Dollar has supported the rally on the
precious metal which has reached the 1365 level. Its next resistance level
could be the 1375 level. The angle of inclination of the 55 day EMA (purple
line) is showing us that the bullish trend is strong. In case of a bearish
pullback, the price of gold may try to retrace to the 55 day EMA around the
1308 level. The 1300 level may act as a better support for gold and below that
level, the 200 day EMA (blue line) around the 1279 level could also act as a
support in case the price falls that far down.
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Good post, thanks for sharing.
ReplyDeleteI completely agree with your analysis.
ReplyDeleteSome correction has begun.
ReplyDeleteGood assessment as ususal.
ReplyDeleteThe up trend seems to be losing strength.
ReplyDeleteReaching an important resistance!
ReplyDeleteGreat take on markets!
ReplyDelete