We are back where we were yesterady, a combination between a correction on the bearish trend and the excuse of NK threatening with war was the perfect scenario for the run up yesterday. The daily chart is showing an engulfing bearish pattern and therefore I went short again @1297 SL 1302.
I would like to point out that the close on Friday will be crucial as the monthly chart would close with a long red candle which would mean that rallies up to 1320 and below should be sold into October and November, some of you, who have been following the blog since day 1, may remember that I´m expecting a low on December aaround 1200 / 1204 where I expect to buy and hold into 12018 on a long term position aiming for a break of 1392 and beyond in 2018.
Anyway going back to short term, we will be following the intial analisys published on Friday, which means bearish trend targeting 1282 and 1271.
I would like to point out that the close on Friday will be crucial as the monthly chart would close with a long red candle which would mean that rallies up to 1320 and below should be sold into October and November, some of you, who have been following the blog since day 1, may remember that I´m expecting a low on December aaround 1200 / 1204 where I expect to buy and hold into 12018 on a long term position aiming for a break of 1392 and beyond in 2018.
Anyway going back to short term, we will be following the intial analisys published on Friday, which means bearish trend targeting 1282 and 1271.
Sir. What do u mean on friday will rallies to(up) 1320 and on friday too XAU will down to 1282 & 1271?
ReplyDeleteI never said that.
DeleteHope all will happen as planned sir, cesar.
ReplyDeleteI am still not understand
ReplyDelete"I would like to point out that the close on Friday will be crucial as the monthly chart would close with a long red candle which would mean that rallies up to 1320 and below should be sold into October and November, some of you, who have been following the blog since day 1, may remember that I´m expecting a low on December aaround 1200 / 1204 where I expect to buy and hold into 12018 on a long term position aiming for a break of 1392 and beyond in 2018."
there's one thing bothering me, i did predicted it will be bearish the whole month but according to history, the gap should have been closed this week before resuming the down trend, unless its going to go long for a long time.
ReplyDeleteI agree, is it very strange, I´ve been scratching my head over it as well.
DeleteMorning sir
ReplyDelete