#gold - Sideways/Slow Rise to continue?
Hello Traders,
after Gold has been doing well recently, it made a rather poor breakout attempt on high volume and got declined (for now) but NOT being pushed back below the key-level and is now floating
without producing any major bearish signals here. It is absolut within possibilities we see a slow further side / rise up to the Pivot Cluster R3-Q and R1-Y, and this could fairly take months!
We have seen on this ride up twice the same situation regarding bullish signals on supports of MA50 and cloud combinations. Stops: Considering $1530 for Swingtrades a good one, simply cause chance are high you can buy back lower if this price is reached again.
For long-term investors this is a different story: $1446 is a range, but also likely keeps you within the growing process and if it falls below the Yearly Pivot, you really wanna be out.
Cheers guys.
Neru
after Gold has been doing well recently, it made a rather poor breakout attempt on high volume and got declined (for now) but NOT being pushed back below the key-level and is now floating
without producing any major bearish signals here. It is absolut within possibilities we see a slow further side / rise up to the Pivot Cluster R3-Q and R1-Y, and this could fairly take months!
We have seen on this ride up twice the same situation regarding bullish signals on supports of MA50 and cloud combinations. Stops: Considering $1530 for Swingtrades a good one, simply cause chance are high you can buy back lower if this price is reached again.
For long-term investors this is a different story: $1446 is a range, but also likely keeps you within the growing process and if it falls below the Yearly Pivot, you really wanna be out.
Cheers guys.
Neru
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