Where is Gold going this week?
I worry about the Daily's ability to continue bullish. Here's why.
Starting at the purple vertical line, Gold created a Rising Two Methods (Usually called a Rising Three Methods, but since it is the same formation, minus one candle, I called it this.) This is a Bullish signal often times.
Looking at these two candles, a Dark Cloud Cover was created. These can be signs of reversal.
Now, looking at the last candle.
The wick pushes to new highs of the whole week. But, price closed lower than the previous days open.
Will price move down? Or will price push above previous weeks' wicks and climb up?
Starting at the purple vertical line, Gold created a Rising Two Methods (Usually called a Rising Three Methods, but since it is the same formation, minus one candle, I called it this.) This is a Bullish signal often times.
Looking at these two candles, a Dark Cloud Cover was created. These can be signs of reversal.
Now, looking at the last candle.
The wick pushes to new highs of the whole week. But, price closed lower than the previous days open.
Will price move down? Or will price push above previous weeks' wicks and climb up?
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