What happens next would be decided by the tape so do not try and fight the tape. Main trend remains pointing to the south and I am expecting a fall below $1,000 for the next year.
Chart: H1 XAUUSD
Tuesday, October 27, 2015
Gold Steady
The price of Gold has been relatively unchanged for the last few days, circulating in the range between $1,170 and $1,160. Currently Gold is trading at $1,164 and all this consolidation might mean one thing - it's about to head either down or up. Now, technically Gold was in sell zone when it reached $1,192 and fell below $1,178.
What happens next would be decided by the tape so do not try and fight the tape. Main trend remains pointing to the south and I am expecting a fall below $1,000 for the next year.
Chart: H1 XAUUSD
What happens next would be decided by the tape so do not try and fight the tape. Main trend remains pointing to the south and I am expecting a fall below $1,000 for the next year.
Chart: H1 XAUUSD
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Informative post!
ReplyDeleteVery useful analysis.
ReplyDeleteGold is waiting for the Fed rate decision.
ReplyDeleteGold is falling.
ReplyDeleteGreat post.
ReplyDelete