Some fundamental signs are pointing a possible reverse on the downtrend of gold.
The good trade when you match this with price action, trying to take the best timing
The first scenario is a break to the upside bouncing from the downside of the channel, that could be strong if it will squeeze the short sellers betting on a fall to the 1000 barrier
The second scenario is a retest of the support ( red line ) around 1046.87 before going to the upside
A confirmation with the RSI and Bollinger bands is important.
NOTE : I don't prefer to take the short side, which is too risky, stay neutral and wait for the best moment.
- It may be possible to go down for a test of the 1000$/once (yellow line) it could be a very good opportunity to go long ( if alined with RSI oversold and very close to the big channel ( blue descending channel )
EVERYTHING is possible !
The good trade when you match this with price action, trying to take the best timing
The first scenario is a break to the upside bouncing from the downside of the channel, that could be strong if it will squeeze the short sellers betting on a fall to the 1000 barrier
The second scenario is a retest of the support ( red line ) around 1046.87 before going to the upside
A confirmation with the RSI and Bollinger bands is important.
NOTE : I don't prefer to take the short side, which is too risky, stay neutral and wait for the best moment.
- It may be possible to go down for a test of the 1000$/once (yellow line) it could be a very good opportunity to go long ( if alined with RSI oversold and very close to the big channel ( blue descending channel )
EVERYTHING is possible !
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.