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 !
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.