Hello Traders, '
Today's chart will be an update on GOLD (US$/OZ) based on previous chart posted on 06/21/2019 ( Feel free to have a look!)
Points to consider here
- Inverse Head and Shoulders Valid
- Price broke multi year long resistance zone, now turned potential support
- Price has reached calculated target of this inverse head and shoulders ( Blue...
New Thesis on LTCUSD,
Points to consider;
- Uptrend Broken
- Broke major support, now testing as resistance
- Stoch crossing bearish
- Volume climax on 4hr time frame
- EMA crossing bullish, insignificant with all bearish indicators
- RSI neutral on 4hr time frame
LTC needs to break this major resistance for it to continue its uptrend,...
With Gold hitting key Support and Resistance zones with the combination of a Flat Top Triangle, it gives us 3 options, A break of Resistance, a consolidation into the triangle or a push to the downside breaking the bottom of the trend-line.
Looking at price to touch my trend line to confirm my buy up towards 1305 level.
with fundamental news confirming that US economy is weakening, Commodities and will be a go to for investors and this will surely see gold go above 1305.
its very important to trail your stop loss with gold as it can move very quickly. i see a lot of bullish potential on this seeing...
Looking at price climbing towards 1280 level before potentially reversing. i have had a really good week with gold so i am not looking to force any trade. As you can see trend lines are heavily respected and because of that this gives us an indication on where price can be heading.
lets see how the market plays out on this one. Friday is always a day where we...