Gold Analisys 2021-05-12
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.
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.
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