I am
looking at the Gold daily time-frame and I am wondering whether or not it will
continue falling. It has clearly broken above the resistance at $1,300, but
afterwards it has rebounded and formed a big and very obvious shooting star
candlestick on said daily time-frame. On the other hand it is also clearly
struggling to break below $1,280 again. So what’s next for Gold? The clearest
signal here is the shooting star candlestick on the daily time-frame so this is
the signal I would trust. Despite the current retracement to the upside that
candlestick is still a valid signal. If the move to the downside does continue
and Gold does break below $1,280 yet again there will likely be a further drop
towards $1,250.
Very helpful analysis, I will keep it in mind.
ReplyDeleteContinue rise.
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