The Squeeze is on for Gold
The Squeeze is on for Gold. After briefly breaking above 2000, price has come back and in the process positive momentum has dried up.
The GoNoGo Trend is still a “Go” but the GoNoGo Squeeze indicator shows the climbing grid at extremes indicating that momentum has been neutral for several bars.
It will be important to see which direction price goes out of the squeeze. If it rallies, then we’d expect the “Go” trend to remain in tact and price to approach the recent high levels again. If the Squeeze ends with momentum turning negative, then the “Go” trend in price will be in danger.
The GoNoGo Trend is still a “Go” but the GoNoGo Squeeze indicator shows the climbing grid at extremes indicating that momentum has been neutral for several bars.
It will be important to see which direction price goes out of the squeeze. If it rallies, then we’d expect the “Go” trend to remain in tact and price to approach the recent high levels again. If the Squeeze ends with momentum turning negative, then the “Go” trend in price will be in danger.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.