• Recent decline in the Gold seen as corrective rather than trend reversal
• Major trend still up, reinforced by the ascending trend line since Nov 22
• Also we have an ascending parallel channel, also intact
• Bulls will try to defend the channel support line, today at 1977 (very close to today's low)
• Gold moves according to overall sentiment and is negatively correlated to the US Dollar
• As the USD has been rallying for the last 2 sessions, this resulted in the Gold trading back below but close to 2000
• Till now, declines are seen as buying opportunities in my opinion and chances are we are going to see the previous high at 2070 re-tested before seeing any major trend reversal
• Major trend still up, reinforced by the ascending trend line since Nov 22
• Also we have an ascending parallel channel, also intact
• Bulls will try to defend the channel support line, today at 1977 (very close to today's low)
• Gold moves according to overall sentiment and is negatively correlated to the US Dollar
• As the USD has been rallying for the last 2 sessions, this resulted in the Gold trading back below but close to 2000
• Till now, declines are seen as buying opportunities in my opinion and chances are we are going to see the previous high at 2070 re-tested before seeing any major trend reversal
Ramzi Abou Abdallah, CFTe, CMT
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Ramzi Abou Abdallah, CFTe, CMT
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.