looks like we could see a bearish movement For gold for the following reasons:
market hat come back to retest the trendline making it its third touch on the weekly time frame.
The pull back has come to a well respected trend line created on the 21st of July last year.
Pull back has hit the 61.8% pullback..
the RSI has shown that we are over bought (over 70%) on the 4 and 1 hour chart,
totaling to 4 confirmations on the charts indicating a sell. If we see a bullish break above we will wait for a bull back and then buy
fundamentals
Monday, JANUARY 3
14:45
USD Markit Manufacturing PMI(Dec)
TUESDAY, JANUARY 4
15:00
USD ISM Manufacturing Employment Index(Dec)
USD ISM Manufacturing New Orders Index(Dec)
USD ISM Manufacturing PMI(Dec)
USD ISM Manufacturing Prices Paid(Dec)
market hat come back to retest the trendline making it its third touch on the weekly time frame.
The pull back has come to a well respected trend line created on the 21st of July last year.
Pull back has hit the 61.8% pullback..
the RSI has shown that we are over bought (over 70%) on the 4 and 1 hour chart,
totaling to 4 confirmations on the charts indicating a sell. If we see a bullish break above we will wait for a bull back and then buy
fundamentals
Monday, JANUARY 3
14:45
USD Markit Manufacturing PMI(Dec)
TUESDAY, JANUARY 4
15:00
USD ISM Manufacturing Employment Index(Dec)
USD ISM Manufacturing New Orders Index(Dec)
USD ISM Manufacturing PMI(Dec)
USD ISM Manufacturing Prices Paid(Dec)
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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.