Gold bearish momentum to continue
While Q2 gave traders an optimistic sentiment that Gold would recover, from what happened in Q1. Traders have today again been possibly trapped in a false uptrend range movement. News has been a key player here.
Following my analysis, based on the following points:
1- MAs, prices crossed the averages. Which might indicate news support and resistance zones.
I expect resistance zones to have no mercy.
I expect support zones to give power and change into a new low resistance very easily.
2- My stoch indicator, provides me data which I relayed on since previous week and provided accurate forecast. When Back in end march I finally decided to avoid my will to push markets and close positions and accept that I was wrong following the trend downward.
3- Finally, I underestimated the dollar index. Only focusing on the printing issues and forgot his intrinsic value.
Forgot that economy might recover soon and those supply, demand factors could impact.
Like if you like the idea and updates to come very soon.
Kevin C. Best
Following my analysis, based on the following points:
1- MAs, prices crossed the averages. Which might indicate news support and resistance zones.
I expect resistance zones to have no mercy.
I expect support zones to give power and change into a new low resistance very easily.
2- My stoch indicator, provides me data which I relayed on since previous week and provided accurate forecast. When Back in end march I finally decided to avoid my will to push markets and close positions and accept that I was wrong following the trend downward.
3- Finally, I underestimated the dollar index. Only focusing on the printing issues and forgot his intrinsic value.
Forgot that economy might recover soon and those supply, demand factors could impact.
Like if you like the idea and updates to come very soon.
Kevin C. Best
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