Gold's channel between it's moving averages.
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 attivo:
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.
Commento:
Huge hammer candle for today and we can see the power of sellers coming in those levels,bearish sign.
Trade chiuso: stop raggiunto:
Thank you Trump keep ruling the world through Twitter...
Commento:
T2 AND T3 WILL BE REACHED SOON WITH THIS PRICE ACTION.
