Gold – Maybe time for a squeeze…
Looking at EMA lines, an EMA10-EMA25 cross is forming on daily chart with a nice double basing.
Downtrend formation seems to be broken on the daily chart (not on the weekly yet) and price approaches EMA50 for the first time since 1300.
RSI is about to break 50 in upward direction.
Stochastic is moving up with a strong return around 50.
Momentum indicator is also pointing a rise.
So why not see a squeeze up to level 1220 to start an upward leg? Even maybe today…
Downtrend formation seems to be broken on the daily chart (not on the weekly yet) and price approaches EMA50 for the first time since 1300.
RSI is about to break 50 in upward direction.
Stochastic is moving up with a strong return around 50.
Momentum indicator is also pointing a rise.
So why not see a squeeze up to level 1220 to start an upward leg? Even maybe today…
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