I expect uptrend movement toward the resistance near $1857. MACD does not send a clear signal, RSI left the oversold zone signaling for long, all the three MA's support the price-the indicators send signals for long.
Thread: Gold
I expect uptrend movement toward the resistance near $1857. MACD does not send a clear signal, RSI left the oversold zone signaling for long, all the three MA's support the price-the indicators send signals for long.
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If a M15 close above 1800 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 1750 sell only and do not buy. If price closes back above it again do nothing
The range 1800 and 1750 is neutral area, any trade done in between is personal decision and not part of this analysis
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Weakness has extended to the Fibonacci level (1710) and consolidation / pullback is favored in wave 4 before a new low is registered in wave 5. 1750/70 is resistance.
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If a M15 close above 1850 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 1802 sell only and do not buy. If price closes back above it again do nothing
The range 1850 and 1802 is neutral area, any trade done in between is personal decision and not part of this analysis
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It is more likely to go down to around 1802 or lower, and after that, it might have potentially to go up to around 1880 AND 1902
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The spot price for Gold hit a record high of $1912.05/oz on Tuesday before falling sharply, as low as 1703.25, as investors unwound long positions and took profits amid tempered optimism that perhaps the global economy would be able to stagger along without falling into a recession.
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Abubakar 148 (2020-07-04)
I expect impairment of gold to support the diagonal line upward trend in the area around 1770. When there is divergence MACD, RSI indicators also signal a decline after he left the area over purchases overcame the quotation and the support of the MA50. Indicators signals for shorts.
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If a M15 close above 1800 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 1765 sell only and do not buy. If price closes back above it again do nothing
The range 1800 and 1765 is neutral area, any trade done in between is personal decision and not part of this analysis
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Abubakar 148 (2020-04-11)
It is more likely to go up to around 1760 than 1800, and after that, it might have potentially to go down.
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Unregistered (1)
It is going to drop for some time but as there is a lot of insecurity in currency market i personally am of the opnion that Gold is a safe heaven for right now and it is going be till the time currency markets don't recover
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Abubakar 148 (2020-04-23)
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