Gold's channel between it's moving averages.
Updated
After recent unpredictable news with US descision to launch cruise missiles on a Syrian base uncertainty favored at markets and of course safe haven assets made a rally.
Gold was up 1,2% but retreated recording now only 0,26% rise.
Now we can see gold trading inside of a channel created by it's 200 Moving Avearge as an upper channel line and it's 200 Exponential Moving Average.
TECHNICALS
We can see the 200MA acting as resistance at 1260$ area.(Black line)
Also the 200EMA acting as a support at 1233$ area.(Orange line)
We have though a cross from 200EMA to 200MA which is a bearish sign.
I remaining short the targets are on the chart and at my article below.
HAPPY TRADING GUYS!!
Gold was up 1,2% but retreated recording now only 0,26% rise.
Now we can see gold trading inside of a channel created by it's 200 Moving Avearge as an upper channel line and it's 200 Exponential Moving Average.
TECHNICALS
We can see the 200MA acting as resistance at 1260$ area.(Black line)
Also the 200EMA acting as a support at 1233$ area.(Orange line)
We have though a cross from 200EMA to 200MA which is a bearish sign.
I remaining short the targets are on the chart and at my article below.
HAPPY TRADING GUYS!!
Trade active
To put it simply if gold breaks 200MA upwards it's bullish for gold and if breaks downwards the 200 EMA is bearish for gold.Note
Huge hammer candle for today and we can see the power of sellers coming in those levels,bearish sign.Trade closed: stop reached
Thank you Trump keep ruling the world through Twitter...Note
T2 AND T3 WILL BE REACHED SOON WITH THIS PRICE ACTION.
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