Gold Analisys 2021-05-12

2021年5月12日

The Algotrading Multiday system is: long from April 9, 2021 from $ 1743.3

position performance: 5.19% The Algotrading Multiday system is: long from 9 April 2021 from $ 1743.3

position performance: 5.19%
YTD performance: 3.44%
1 year performance: 11.39%

At the end of the day: maintain position


Graphic Analysis

Yesterday the prices fell to support 1816 and then recovered and returned to the 1829 - 1840 sulito range.
Support 1829 has now been broken (signal of weakness)

Supports:

$ 1829
$ 1816
$ 1800

Resistance:

$ 1840
bearish channel upper band (red line)

But I wanted to expand the graph to make some reflections with you:

The long-term upward trend began in 2018, within which we find a medium-term downward trend that started from 3 August 2020.
At the current level we are on the upper band of the medium-term bearish channel .
The situation is very delicate as at this level it could lose strength and return to the 1720 - 1760 area where it would find the lower band of the long-term uptrend channel .
Another possibility is the overcoming with decision of 1840 and this would lead to rapid extensions towards 1900.