Hey Tradomaniacs,
welcome to another weekly overview of Gold!
Let`s take a look at the year and what we see is crazy!
Gold started very well with the years-end-rally of 2017 and retestet the High of 2016!
Technical aspects:
--------------------------------------------------------------------------------------------------------------------
Gold was steady inside a range of 1.303 - 1.365 and broke through the important support of 1.280!
This caused a massive sell-off as every else down to to low of 1.160 which got stronger after
we`ve violated the trendline which started at the low of November 2015.
And as always - the 61,8% retracement was the bulls HEROS which is @ 1.183 and is the current support
after this sell-off. We`ve started to retrace up to the trendline again and are currently at a VERY crucial ZONE.
This ZONE is a very strong resistance and should be decisive for the next move!
We are at the 61,8% retracement of the previous sell-off which is at the trendline
Addotionally we`ve almost reached the 1,61% extension-level of the bulls whose bought this retracement.
Time to take profit or stack up positions?
Is all this a downtrend and we continue after this retracement?
Or will this turn out to be a fakeout and we continue the uptrend above the trendline?
--------------------------------------------------------------------------------------------------------------------
Fundamentally I see a lot of potential in Gold which alwys used to be a safe haven in bloody stock-markets.
The inverted yield-curve used to be a very reliable indicator for a upcoming recession and could change the cashflow
out of stocks into alternatives like gold!
We will see what happens!
I WISH YOU A HAPPY NEW YEARS EVE! Enjoy the time with family and friends! :-)
---------------------------------------------------------------------------------------
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
welcome to another weekly overview of Gold!
Let`s take a look at the year and what we see is crazy!
Gold started very well with the years-end-rally of 2017 and retestet the High of 2016!
Technical aspects:
--------------------------------------------------------------------------------------------------------------------
Gold was steady inside a range of 1.303 - 1.365 and broke through the important support of 1.280!
This caused a massive sell-off as every else down to to low of 1.160 which got stronger after
we`ve violated the trendline which started at the low of November 2015.
And as always - the 61,8% retracement was the bulls HEROS which is @ 1.183 and is the current support
after this sell-off. We`ve started to retrace up to the trendline again and are currently at a VERY crucial ZONE.
This ZONE is a very strong resistance and should be decisive for the next move!
We are at the 61,8% retracement of the previous sell-off which is at the trendline
Addotionally we`ve almost reached the 1,61% extension-level of the bulls whose bought this retracement.
Time to take profit or stack up positions?
Is all this a downtrend and we continue after this retracement?
Or will this turn out to be a fakeout and we continue the uptrend above the trendline?
--------------------------------------------------------------------------------------------------------------------
Fundamentally I see a lot of potential in Gold which alwys used to be a safe haven in bloody stock-markets.
The inverted yield-curve used to be a very reliable indicator for a upcoming recession and could change the cashflow
out of stocks into alternatives like gold!
We will see what happens!
I WISH YOU A HAPPY NEW YEARS EVE! Enjoy the time with family and friends! :-)
---------------------------------------------------------------------------------------
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
노트
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.