at the end of week12 price exited the distribution channel started in week9 and dived from 200SMA to built what IMHO is a short term support just a little bit above 1285 with 50SMA pushing down and stopping the pullback right at 1300. The pull back may extend into the 200SMA following divergence with on Friday but only if 50SMA is crossed and re-tested for the upside during week13. AToW it is not the right time to enter such a move yet though. Plus, I don't see it happening. However need to be prepared.
If 1280 do not hold next stop may be 1265.
Let's wait and be patient.
I don't feel confortable entering any trade on Monday. I am sorry. Gold maybe still be looking to push for the bottom of the handle as referred to in the related ideas linked below. Lol
Thank you for your support and for sharing your ideas.
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