After the spot gold
GOLD
spiked to a high of $2,072... we note that 'The move to $2,072 lacks momentum as can be seen in the barely positive daily MACD'.
However, we emphasize that spot
GOLD
'is likely to move higher towards the top of the rising wedge near $2,100 before the risk of a reversal increases'. We added, 'If spot
GOLD
dips below $2,020, it will most likely test $1,963'.
However, spot
GOLD
must break the daily Ichimoku bottom support, currently at $1,920, before it can weaken towards $1,870 (current level of the 55-week exponential moving average).
The risk of spot gold breaking clearly below $1,920 will remain intact over the next month or so as long as it doesn't move above the top of the daily Ichimoku cloud, currently at $1,992.
I expect gold to collapse from 1970 and we will sell
GOLD
Stoploss: 1975
The level I expect GOLD to return is 1965$, 1960$, 1955$
I hope everything goes according to plan and you make a lot of money.
GOLD
spiked to a high of $2,072... we note that 'The move to $2,072 lacks momentum as can be seen in the barely positive daily MACD'. However, we emphasize that spot
GOLD
'is likely to move higher towards the top of the rising wedge near $2,100 before the risk of a reversal increases'. We added, 'If spot
GOLD
dips below $2,020, it will most likely test $1,963'. However, spot
GOLD
must break the daily Ichimoku bottom support, currently at $1,920, before it can weaken towards $1,870 (current level of the 55-week exponential moving average). The risk of spot gold breaking clearly below $1,920 will remain intact over the next month or so as long as it doesn't move above the top of the daily Ichimoku cloud, currently at $1,992.
I expect gold to collapse from 1970 and we will sell
GOLD
Stoploss: 1975
The level I expect GOLD to return is 1965$, 1960$, 1955$
I hope everything goes according to plan and you make a lot of money.
