cozzamara

GOLD: Week13 update

TVC:GOLD   GOLD CFD's (US$ / OZ)
Hi Guys,

this is what I see on the 4H chart.

Here below a very similar structure I made two weeks ago. Please click & play to watch how Gold moved since then.

To note the support formed in week9 following the dive. IMHO there are a lot of similarities between the support formed in week9 and the support is building in week13. Gold unfolding this move below the 442SMA though.

ST structure in week13 looks good for a pull back but Gold is still inside the violet descending channel (the handle or flag) and it is not bouncing.


That is what is puzzling me most. The fact that nor Gold nor Silver are pulling back which make me think that a failure and a breach of the support may extend the correction of the Bull Run started mid-Aug'18.


Thank you for your support and for sharing your ideas.

Don't forget to put a like if you appreciate the post and to follow me if you want to receive notifications on new and updated ideas.

Disclaimer:
Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities.
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