We are headed for a negative weekly close which indicates that more negative pressure will be seen into next week. Strong support is identified @1251 with monthly resistance @1347.
Although we need to wait until when the weekly candle closes I don´t think that a rally could take place today, as long as money continues flowing to other instruments, such as cryptos, and the geopolitical tensions do not escalate over the weekend.
Disclosure: I continue short @1290 (yesterday the price came USD 1 short of my stop) and will assess the possibility of booking profit @1262 or @1252 depending on EUR/USD and 10 Yr Notes prices.
Although we need to wait until when the weekly candle closes I don´t think that a rally could take place today, as long as money continues flowing to other instruments, such as cryptos, and the geopolitical tensions do not escalate over the weekend.
Disclosure: I continue short @1290 (yesterday the price came USD 1 short of my stop) and will assess the possibility of booking profit @1262 or @1252 depending on EUR/USD and 10 Yr Notes prices.
Sir you mean xau will down trend this week n next week?
ReplyDeleteSeriously? read again or use Google translate.
ReplyDeleteSir Cesato, thanks for sharing your thoughts. The more I read your comments i get better insights. Have a nice day and weekend. Regards
ReplyDeleteMert
Always a pleasure.
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