GOLD reaches monthly Kijun first time in a year
As the title says, the Ichimoku cloud on doubled settings is giving a possible major support indication for the first time in a year.
The monthly Kijun is also close to the multi-year trendline that is ascending from the last bullrun. The corresponding level on single Ichimoku settings is 1185-1210.
Gold is not your usual asset to do TA on but I may put in some bids on this.
As a supporting scenario, the daily RSI is showing slight bullish divergence as we approach the trendline. Will keep the levels very open as it will be a relatively slow trade. Gold is one of the assets that can be come valuable if a financial crisis occurs 2019-2020. Will be interesting to watch.
The monthly Kijun is also close to the multi-year trendline that is ascending from the last bullrun. The corresponding level on single Ichimoku settings is 1185-1210.
Gold is not your usual asset to do TA on but I may put in some bids on this.
As a supporting scenario, the daily RSI is showing slight bullish divergence as we approach the trendline. Will keep the levels very open as it will be a relatively slow trade. Gold is one of the assets that can be come valuable if a financial crisis occurs 2019-2020. Will be interesting to watch.
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