After 1225 have been broken and now we switch to observed the psychology support level 1200. Once this psychology level is broken, we look forward the gold price to 1190 and 1182.
Why short gold? :
1. MACD showed a potential 'death cross'. (a bearish signal which might lead the gold price lower)
2. RSI still showed bearish while its not yet reach oversold condition.
My Short-Term Strategies:
Short gold if 1200 broken & take profit at 1190 or 1182 with a stop loss at 1216.
Upcoming data which may affect gold price:
1. Non Farm Payroll**
2. Unemployment Claim
3. Trade Balance
**Focus the latest news for Middle East geopolitical problem.
Why short gold? :
1. MACD showed a potential 'death cross'. (a bearish signal which might lead the gold price lower)
2. RSI still showed bearish while its not yet reach oversold condition.
My Short-Term Strategies:
Short gold if 1200 broken & take profit at 1190 or 1182 with a stop loss at 1216.
Upcoming data which may affect gold price:
1. Non Farm Payroll**
2. Unemployment Claim
3. Trade Balance
**Focus the latest news for Middle East geopolitical problem.
