Chart Analysis
As it is shown in the chart the price broke the support line in the mid uptrend channel started in the 15th of December 2016
SMA-200 is downtrend directed the SMA-20 is uptrend directed which means that big capitals are still buying gold but small ones are closing there positions. Normally the Gold rally will keep on but with small correction...
Chart Analysis:
the price remains above the weak daily support line at the level of 16.883
the RSI indicator doesn't have any obvious shape
the price is still under the SMA 20
No candlestick configuration which shows a reversal trend
Strategy:
when the price hits the weak daily support line i'll buy a small amount
if the price keeps on drowning...
Chart Analysis:
In the weekly chart the price crossed the SMA-20 periods (which stands for half year price average), we had the confirmation at the end of the week since the weekly session closed above SMA-20
Now we have a complete green candlestick above the strong weekly support line 1.08459
And the SMA-20 is upward directed
Economic Analysis:
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