GOLD - Defenately problematic, watch carefully!
I don't want to complicate it too much.
4 Hrs time frame: bearish
Price trades below Kumo, which is very thick now above the price. Tenkan/Kijun Bearish, Chikou bearish. We may see some buying attempt again and again, but selling pressure will increase ard 1305-1307 I think.
1 Hr time frame: bearish.
Price should break and stay above 1310 for become less bearish, but could bulls hope for any better price action there, or will it only stay in a range with 1315-1320 top side?
Daily time frame: Neutral.
Slow Stoch is bearish, MACD points a bit down again. The biggest question and the most problematic part is the trend line and Kumo bottom at 1292. If this won't be able to hold, then not much further support for Gold.
4 Hrs time frame: bearish
Price trades below Kumo, which is very thick now above the price. Tenkan/Kijun Bearish, Chikou bearish. We may see some buying attempt again and again, but selling pressure will increase ard 1305-1307 I think.
1 Hr time frame: bearish.
Price should break and stay above 1310 for become less bearish, but could bulls hope for any better price action there, or will it only stay in a range with 1315-1320 top side?
Daily time frame: Neutral.
Slow Stoch is bearish, MACD points a bit down again. The biggest question and the most problematic part is the trend line and Kumo bottom at 1292. If this won't be able to hold, then not much further support for Gold.
