Good day everyone. We are approaching a critical area for the spot gold price, both short and medium term. I have attached the weekly chart for your analysis. On top of the indicators shown on the chart we should bear in mind that 1276 and 1262 are key moving averages on the monthly chart so that the deveploment of the price within this band (1276 and 1262) will determine whether or not we have a rally within the next month. Analyzing the long term trendline it suggests that USD 1200 could be seen before the end of the year, probably the first week of December, if that trendline is respected then a potential rally (a very important one) could be seen into 2018.
In addition there have been and there will be good trading opportunities for scalpers on the 5 min charts as volatilibty picks up within the aforementioned area.
In addition there have been and there will be good trading opportunities for scalpers on the 5 min charts as volatilibty picks up within the aforementioned area.
Morning Sir. I was use H4. And saw it will bullish. What do u think? I need more info. Thanks.
ReplyDeleteI think it will stag n down. I am wrong.
ReplyDeleteWell, short term is volatile. General trend is down and I don't think the 4H chart would tell you much about the overall trend unless you see 3 consecutive closes with a bullish candle.
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