One has to
wonder whether this is the end of the current move to the downside for Gold
when they examine the daily time-frame. After the fundamentals on Friday Gold
formed a whipsaw, which translated into a spectacular doji candlestick on the
same time-frame. Yesterday Gold formed a hammer candlestick on the daily
time-frame again and both are above the support at $1,317. Both of these candlesticks individually are a signal that we
might have to prepare for a reversal, together they are an even more telling
signal.
If said
signal proves valid Gold will likely start moving to the upside towards $1,330
- $1,340 again.
The target
to the downside, however, remains unchanged at $1,300, which coincides with
(MA)89 on the daily time-frame.
Gold continues falling.
ReplyDeleteGold will continue falling.
ReplyDeleteI do not think so, a correction could be under way.
ReplyDeleteStill staying lower.
ReplyDeleteThanks for the helpful post!
ReplyDelete