Gold bounced off of the support area for now
Light volume during recent bounce indicates this is a retracement in the downtrend
--> I threw in some Fibs to indicate where overhead resistance lies.
Resistance at:
- 7 day MA (currently there); a break would suggest the 20 day MA or the 38% FIb as target (1240ish)
- 23% Fib at 1224, 38% Fib at 1240
Overall: the lack of volume on the bounce indicates the lows might be tested again as the downtrend is still prevailing.
Took advantage of the break the last 5 days, but covering my short puts now
I dont have any sells signals yet, hence I am not doing anything until I see some
Light volume during recent bounce indicates this is a retracement in the downtrend
--> I threw in some Fibs to indicate where overhead resistance lies.
Resistance at:
- 7 day MA (currently there); a break would suggest the 20 day MA or the 38% FIb as target (1240ish)
- 23% Fib at 1224, 38% Fib at 1240
Overall: the lack of volume on the bounce indicates the lows might be tested again as the downtrend is still prevailing.
Took advantage of the break the last 5 days, but covering my short puts now
I dont have any sells signals yet, hence I am not doing anything until I see some
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Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Publications connexes
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.