Stand by for BUY signal on Gold
1.790/1800
is an important area of support/resistance.
1) A breach and close above this level,
will resume the trend line and climb to 1830/40.
2) if the price can't break the 1790/1800 barrier
the trend will most likely change and retreat to 1700 levels
3) Right now, price is underpinned
by 1790 support baseline and 50 EMA.
And above the 200 EMA
4) Money flow index is in the green zone supporting Upside continuation
1.790/1800
is an important area of support/resistance.
1) A breach and close above this level,
will resume the trend line and climb to 1830/40.
2) if the price can't break the 1790/1800 barrier
the trend will most likely change and retreat to 1700 levels
3) Right now, price is underpinned
by 1790 support baseline and 50 EMA.
And above the 200 EMA
4) Money flow index is in the green zone supporting Upside continuation
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Please comment if you ride the nice up wave on this one. I sure did :)