Posts 23-month new highs following breaking through 200-week MA
7-7-16
XAU @102.50 – bullish – Posts 23-month new highs following breaking through 200-week MA
XAU extended the strong rally from the 77.99 low (May 23, 2016 weekly low) through 93.66 (May 2, 2016 high) and the 200-week moving average (currently at 92.17) to post new 23-month new highs. Further upside opens 106.01 (July 2014 monthly range high) and then 115.21 (August 2013 lower high, near 38.2% of the 232.72/38.36 entire 5-year fall (December 2010-January 2016)).
The 93.66 range high near the 200-week moving average reverts to support. Only a return below the latter would suggest consolidation towards the 77.99 area .
Outlook:
Daily: bullish
weekly: bullish
Monthly: bullish
XAU @102.50 – bullish – Posts 23-month new highs following breaking through 200-week MA
XAU extended the strong rally from the 77.99 low (May 23, 2016 weekly low) through 93.66 (May 2, 2016 high) and the 200-week moving average (currently at 92.17) to post new 23-month new highs. Further upside opens 106.01 (July 2014 monthly range high) and then 115.21 (August 2013 lower high, near 38.2% of the 232.72/38.36 entire 5-year fall (December 2010-January 2016)).
The 93.66 range high near the 200-week moving average reverts to support. Only a return below the latter would suggest consolidation towards the 77.99 area .
Outlook:
Daily: bullish
weekly: bullish
Monthly: bullish
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.