gold scenario next week

Updated

approaching weekly descending channel, trend still intact but in a small pause.
i'm looking for a break of the green channel to target 100 MA on daily chart.
for possible alert area for a reverse look at price in the red square.

note that 10MA on daily is still intact
rii on 4h still above 50.

Note

today some bearish signal on 4h just before US open, let's see what happens

Note

4h sell signal confirmed. that's intraday small tp till 205. long term trend still up

Note

last 4h comment on 4h was correct, now the price on DAILY is below short MA 5/10. so caution as the price is approaching the reverse area and the uptrend could change direction

Note

waiting the US session...looks very bearish. main level is 1195.7 (last daily higher low and lower range last weekly channel). below that a new downtrend could start.
eyes on behavior of price at US open.

Trade closed: target reached

trend terminated, new channel downside forming. i'll update a new downtrend trading on daily. nice trip up 70/80 dollars. let's see now how far the donated will go.
trade well

Gix67

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