Once Again Revarsal Ahead ? Place Stop at 1296
Updated
On Another Way If Gold Hold Recent sing low then Gold will can fire up ( need Confirmation before rally ).>>>>>>>>>>>>>>>>>>>>>>>>>>>.....
Gold’s failure at $1300 and weekly reversal have nullified any apparent breakout on the daily chart. Moreover, some traders and investors are neglecting the more important resistance levels of 11300/OZ and the $1350-11375/OZ which stem from the 2013 and 2014 tops. The weekly reversal in Gold coupled with the continued poor performance from the gold stocks suggests a real breakout in Gold is not yet in the cards. The positive aspect is this failed breakout could lead to a selloff and ultimately lower risk entry points in a number of juniors. We will exercise caution and patience as we expect metals and miners to trend lower in the days and weeks ahead.
Gold’s failure at $1300 and weekly reversal have nullified any apparent breakout on the daily chart. Moreover, some traders and investors are neglecting the more important resistance levels of 11300/OZ and the $1350-11375/OZ which stem from the 2013 and 2014 tops. The weekly reversal in Gold coupled with the continued poor performance from the gold stocks suggests a real breakout in Gold is not yet in the cards. The positive aspect is this failed breakout could lead to a selloff and ultimately lower risk entry points in a number of juniors. We will exercise caution and patience as we expect metals and miners to trend lower in the days and weeks ahead.
Trade active
Comment
Gold Daily Updateday by day
The trend remains bearish
Comment
please trail stop from 1300 to 1280Trade closed manually
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.