GOLD: Last two weeks

Updated

Hi Guys,

the above is a close up of price movements inside the circled area:

Now please forget about the chart with the circle and concentrate on the 30 minutes chart.

To note:
a) three levels: 1266, 1277 and 1288;
b) price supported by 450SMA above 1277;
c) RSI just above 50;

IMHO, US China Trade negotiations and clues on inflation may trigger a big move. An opportunity for the downside may occur if support is lost at 1277 (ZigZag). An opportunity for the upside may be above 1288 (J-Hook).

If Investors will buy again the dip in the stockmarket Gold may go down at 1266. If they don't buy SPX, Gold may run for higher highs at 1300.

Hope the above clarifies but please do not hesitate to contact me for any queries, comments or feedbacks.

Thank you for your support and for sharing your ideas.

Don't forget to put a like if you appreciate the post and to follow me if you want to receive notifications on new and updated ideas.

Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.

Note

Escalating tensions between US and Iran + DXY ST weakness may also play a fundamental role for supporting a bull run

Note

cozzamara

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