GOLD - BUYING
Updated
This is going to be a short update as we are nearing to the oversold conditions what I wanted to see.
We just tagged the 50 SMA on the daily chart and RSI is near to oversold.
I'm quite sure we are going to close above the 100 SMA today or Monday.
This is the point where I add to the long positions or you can start a new long position.
We can assume the 25 day rule worked out perfectly this time.
With this call I gave you the second good entry on the way up to 2500$.
We just tagged the 50 SMA on the daily chart and RSI is near to oversold.
I'm quite sure we are going to close above the 100 SMA today or Monday.
This is the point where I add to the long positions or you can start a new long position.
We can assume the 25 day rule worked out perfectly this time.
With this call I gave you the second good entry on the way up to 2500$.
Note
The dollar and gold moving together.
Note
The first daily cycle printed a nice rally though the DCL was tough. In this 2nd daily cycle we can’t get any momentum.
I think we are still going to test 2000-2080 in this second daily cycle. We have 2-3 weeks for that.
Note
Answeing for those who asked is this a bear flag: I don’t think this channel will break down. We are crawling above and below the 200 SMA. For a flag we should be above the 200 SMA AND BREAK DOWN THE 200 SMA WHEN THE FLAG BREAKS DOWN.Note
Zombie market. We broke the previous ICL. Trade closed manually
Note
The chance is high we are going to tag the 100 SMA at 1640-50 :
Related publications
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.