If I plot the 5 Daily Simple Moving Average, you will notice that it has a very strong move upwards and can defy Resistance Lines and Indicators. Why 5 Day? 5 Day represents average price for one [1] Week.
As you can also see from the chart when it fell to 1450 level, once it did not act as Resistance, a great rally ensued for Gold. I know that there are is an RSI Divergence on Daily and Weekly Chart due to Higher Prices but RSI does not agree. The only explanation I can give that defies it is the 5 Day Simple Moving Average as I learned years ago that it is a measure of price momentum Going Up and Going Down. Hope it helps in your trading. :)
As you can also see from the chart when it fell to 1450 level, once it did not act as Resistance, a great rally ensued for Gold. I know that there are is an RSI Divergence on Daily and Weekly Chart due to Higher Prices but RSI does not agree. The only explanation I can give that defies it is the 5 Day Simple Moving Average as I learned years ago that it is a measure of price momentum Going Up and Going Down. Hope it helps in your trading. :)
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.