Gold stalled today and ended the day just above the BB Midpoint. Today's hammer is a bullish candlestick so while price is still under the 6 and 8 day MAs and the stoch RSI is moving down, I want to see confirmation on Monday as to the direction of Gold's next move.
Also note that the hammer shows rejection of the range below as shown on this chart:
This is also not very bearish.
Due to these mixed signals, and the fact that today was contract rollover for Gold Futures, I closed my positions, banking a nice 18 point per contract profit.
Also note that the hammer shows rejection of the range below as shown on this chart:
Due to these mixed signals, and the fact that today was contract rollover for Gold Futures, I closed my positions, banking a nice 18 point per contract profit.
