GOLD update for week ending 27 September 2019Weekly Data Summary Suggests:
Current Weekly Trend is Bullish
The anticipated upcoming trade range is between 1467.74 - 1525.82
If GOLD is capable of maintaining the current strength as of today, there is a projected weekly target price of 1491.52
The prices are moving with the Trending Moving Average at a standard pace with a moderate market
The RSI that monitors bullish strength has a current weekly reading of: Bullish
The RSI that monitors bearish strength has a current weekly reading of: Neutral Bull
The strength demonstrated over the last 5 weeks is currently: Bullish
Price Consolidation has formed between: 1480 - 1557.1
Current chart score suggests a Bullish Market is present.
Daily Data Summary Suggests:
Current Daily Trend is Bearish
The anticipated upcoming trade range is between 1481.85 - 1511.71
If GOLD is capable of maintaining the current strength as of today, there is a projected daily target price of 1481.14
Price movement has returned to the Trending Moving Average this suggests either a stall while averages catch up to the prices or a turn in the prices in the opposite direction
The RSI that monitors bullish strength has a current daily reading of: Neutral Bear
The RSI that monitors bearish strength has a current daily reading of: Neutral Bear
The strength demonstrated over the last 5 days is currently: Bearish
Price Consolidation has formed between: 1472.41 - 1555.33
Current chart score suggests a Bearish Market is present.
Comments:
Mixed sentiment between weekly and daily charts. Daily chart maybe bearish at this moment, however it may be prepared to turn again and continue back up. This is based on the divergence on the indicators between the stronger trend (week) and weaker trend (day).
** If data does not significantly change between trade dates, a daily update may be skipped. Monthly and Weekly updates will always be provided. **
