Gold Pauses and Moves Sideways
Gold traded down 3.6 points on Thursday and while it was a down candle, the bull move is still supported by a green Heikin-Ashi candle. It would also be unusual for price to not move past the inner Bollinger Band. As you can see on the Heikin-Ashi version of the chart, the uptrend still appears to be strong;
The weekly chart below shows a possible transition to a bull market. This weeks candle is the second green one in a row (unless there's a big sell-off tomorrow) and is a strong move above the 21 week moving average. And while the haDelta indicator is still red, you can see the delta moving average poking above the 0 line, a strong harbinger that the downward trend may be ending.
Disclaimer: This post is for educational purposes only. Trading is at your own risk.
The weekly chart below shows a possible transition to a bull market. This weeks candle is the second green one in a row (unless there's a big sell-off tomorrow) and is a strong move above the 21 week moving average. And while the haDelta indicator is still red, you can see the delta moving average poking above the 0 line, a strong harbinger that the downward trend may be ending.
Disclaimer: This post is for educational purposes only. Trading is at your own risk.
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