XAU Daily chart is presenting great short opportunities and we can use the fact that interest rates are rising as a potential indicator that money could move to Bonds and fixed income investments thus dropping the demand down and creating over supply in the markets which would cause a fall, another factor is rising $, as the $ rises there is occasion that will drop XAU, Ruble being pegged to XAU also gives a reason for the west to try drop the price to provide more pain to the Russian economy, in terms of pure technical analysis we have seen a sharp drop under the MA89, a pullback and a kinda inverted cup and handle pattern, we have a sequence of three very bearish candles on the Daily chart, and we are seeing a very bearish monthly candle being printed, therefore we should be looking for shorts in Gold, and aiming to potentially take out all these long positions by price hitting the $1690 level in the longer term, remember to take profit on the way down on smaller timeframes to reduce exposure.
Dagangan aktif:
$1830
Komen:
Lovely fall in the green, keep them keen.
Komen:
+130 pips already
Komen:
+240 pips now
Komen:
Strong bounce, watch price action carefully
Komen:
+570 pips
Komen:
+700 pips
Komen:
+880 pips
