Main trend is expected to change as price appears to be trying to get into the trading channel again. First bear target is seen at $1,287, while first resistance is the last high of $1,303.
Chart: XAU/USD D1
Tuesday, May 3, 2016
Gold Decision Time
The precious metal has to make an important and crucial decision - where to go now? Bulls' ambitions managed ti push price slightly above the psychological level of $1,300 marking a high of $1,303.65. Since then, however, their thirst seems to have been satisfied and price started to go down marking a low of $1,287.
Main trend is expected to change as price appears to be trying to get into the trading channel again. First bear target is seen at $1,287, while first resistance is the last high of $1,303.
Chart: XAU/USD D1
Main trend is expected to change as price appears to be trying to get into the trading channel again. First bear target is seen at $1,287, while first resistance is the last high of $1,303.
Chart: XAU/USD D1
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Considering that doji candlestick on the daily time-frame it might start retracing soon.
ReplyDeleteThank you for the assessment.
ReplyDeleteGold seems unstoppable.
ReplyDeleteGood tip, will have it in mind.
ReplyDeleteGreat post! I fully agree with your view.
ReplyDeleteGood tips.
ReplyDelete