Gold: The Price Reached SMA100, What's Next?
The price reached SMA100 which can stop the downward movement. The reversal signals from this zone will be used for buying. We can search for exact trade opportunities using different timeframes.
If you expect a further downward movement, you should wait for a breakout below SMA100. After that, the road toward SMA200 will be opened. MACD and RSI are bearish now and they support the further downward movement. But at the same time RSI like is not far from the oversold zone.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
If you expect a further downward movement, you should wait for a breakout below SMA100. After that, the road toward SMA200 will be opened. MACD and RSI are bearish now and they support the further downward movement. But at the same time RSI like is not far from the oversold zone.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Penafian
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