✴️ GOLD Daily timeframe. Feb.06 - Feb.10

Gold is down 5% on reports. The fundamentals broke the market and thereby made a huge mass of speculators nervous

1) Friday's daily bar closes in its lows, which suggests that the fundamental factor will continue to press the price and the fall may continue
2) The price makes a false-break of the support at 1865.2, and it might pullback to 1871 and to 1881 at the opening session.
3) The hourly RSI is in the overbought zone, and the daily one is just approaching, but it is possible that the signal line can bounce from the lower boundary of the corridor
4) The global potential is still bullish, the price is in the correction phase. This distributive movement could end quite quickly, but where, no one knows, it could be 1865 and 1843 and 1824
5) The return of the price to the area of 1871 and 1881 (the second one is more probable) may form a bullish impulse due to the activation of the liquidity volume
6) Next week could be too quiet and move into a consolidation phase. Possible range -1865(1850) and 1890-1900

Trade ist aktiv

Trade ist aktiv