Gold – Weekly look on Bollinger Band
On the weekly XAUUSD chart, I marked the bounces of gold_prices between upper BB, median line and lower BB…. Bollinger bands seems to have worked pretty well, which might give us a clue.
Engulfing red candles clearly indicate the strength of bears in the market. Now we are on the median line of Bollinger Band, where we might see a reaction of bulls. Otherwise, lower BB is on the way.
Engulfing red candles clearly indicate the strength of bears in the market. Now we are on the median line of Bollinger Band, where we might see a reaction of bulls. Otherwise, lower BB is on the way.
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