With all the divergence in 4hr and 1hr chart, it's likely that GOLD starts its bullish run from here to retest previous top, or even the multi-year top around 1360-1370. This is confirmed with the response from gold miner ETF (GDX/GDXJ) as well. But this might be the last up move for gold this year, so trade with care. I think GOLD is going to revisit 1200 area before the election year.
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1hr
Commentaire:
GDX retesting 200SMA and the trend line
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Not bad so far. The daily closing prices for the next few days are important. Let's see!
Commentaire:
Daily and Weekly closes are not bad, very likely gold printed bottom this week.
Trade fermée manuellement:
Something is wrong, it seems going to visit previous low.