Gold update - sell on 4H - wait for good long confirmation
Technical view:
-market has shown first supports at 1285 $ which has to be confirmed by another support test
-wait for clear confirmation before entering this trade
-50 day moving average crossed 100day and 200day moving average down side which is bearish indicator
-price is near upper bollinger bands which indicates soon down correction move
Fundamental view:
The predominantly positive signs on the international stock markets have led to a decline in interest in crisis protection commodity gold. For the third day in a row the quantity of gold held by the world's largest gold ETF has been reduced. Yesterday it fell from 768.10 to 764.29 tonnes, its lowest level since mid-December. Tension is now being created by the upcoming US labour market data and trade talks between China and the US. Should an agreement be reached on the trade dispute, the yellow precious metal is threatened by another wave of sales to at least 1275 $
-market has shown first supports at 1285 $ which has to be confirmed by another support test
-wait for clear confirmation before entering this trade
-50 day moving average crossed 100day and 200day moving average down side which is bearish indicator
-price is near upper bollinger bands which indicates soon down correction move
Fundamental view:
The predominantly positive signs on the international stock markets have led to a decline in interest in crisis protection commodity gold. For the third day in a row the quantity of gold held by the world's largest gold ETF has been reduced. Yesterday it fell from 768.10 to 764.29 tonnes, its lowest level since mid-December. Tension is now being created by the upcoming US labour market data and trade talks between China and the US. Should an agreement be reached on the trade dispute, the yellow precious metal is threatened by another wave of sales to at least 1275 $
Đóng lệnh: đạt mục tiêu:
market rebounced exactly at drawn take profit
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
