As the title says, the Ichimoku cloud on doubled settings is giving a possible major support indication for the first time in a year.
The monthly Kijun is also close to the multi-year trendline that is ascending from the last bullrun. The corresponding level on single Ichimoku settings is 1185-1210.
Gold is not your usual asset to do TA on but I may put in some bids on this.
As a supporting scenario, the daily RSI is showing slight bullish divergence as we approach the trendline. Will keep the levels very open as it will be a relatively slow trade. Gold is one of the assets that can be come valuable if a financial crisis occurs 2019-2020. Will be interesting to watch.
The monthly Kijun is also close to the multi-year trendline that is ascending from the last bullrun. The corresponding level on single Ichimoku settings is 1185-1210.
Gold is not your usual asset to do TA on but I may put in some bids on this.
As a supporting scenario, the daily RSI is showing slight bullish divergence as we approach the trendline. Will keep the levels very open as it will be a relatively slow trade. Gold is one of the assets that can be come valuable if a financial crisis occurs 2019-2020. Will be interesting to watch.
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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.