GOLD: Weekly overview! Chance to see 1.268 soon is likely!
Hey tradomaniacs,
WELCOME to the overview of Gold.
Within the last week, we`ve created a "DOJI-Candle" which indicates a sideways trend.
The market almost closed at the same price it openend.
We`ve seen no volatility and no real direction.
Important resistance:
Within the last 5 weeks we were not able to move above the 38,2% retracement which is at 1.238 - 1.243.
The respected 200 weekly M/A is right at the resistance and seems to support it.
How ever, according to the dow-theory we still see higher Lows indicating an uptrend, thus it`s more
likely to see GOLD rising up to 1.268!
A breakout through the mentioned resistance could be a very nice and volatile trigger for the market to buy.
A break through 1.184 could cause a sell-off down to 1.122!
The primary trend shows an ascending triangle which is also a positive sign for gold!
We will see! :-)
Have a nice start into the week!
Peace and good trades
Irasor
Wanna see more? Don`t forgetto follow me.
Any questions? PM me. :-)
WELCOME to the overview of Gold.
Within the last week, we`ve created a "DOJI-Candle" which indicates a sideways trend.
The market almost closed at the same price it openend.
We`ve seen no volatility and no real direction.
Important resistance:
Within the last 5 weeks we were not able to move above the 38,2% retracement which is at 1.238 - 1.243.
The respected 200 weekly M/A is right at the resistance and seems to support it.
How ever, according to the dow-theory we still see higher Lows indicating an uptrend, thus it`s more
likely to see GOLD rising up to 1.268!
A breakout through the mentioned resistance could be a very nice and volatile trigger for the market to buy.
A break through 1.184 could cause a sell-off down to 1.122!
The primary trend shows an ascending triangle which is also a positive sign for gold!
We will see! :-)
Have a nice start into the week!
Peace and good trades
Irasor
Wanna see more? Don`t forgetto follow me.
Any questions? PM me. :-)
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