GOLD - daily price to be reversed to the bullish with strong resistance levels;  H4 price was reversed by breaking 100 period SMA and 200 period SMA

GOLD - daily price to be reversed to the bullish with strong resistance levels; H4 price was reversed by breaking 100 period SMA and 200 period SMA

28 April 2015, 18:11
Sergey Golubev
0
713

H4 price broke 200 period SMA and 100 period SMA stopped by 1207.22 resistance level; the price is located above 200 period SMA and 100 period SMA for now:

  • The price is ranging between 1175.17 support and 1207.22 resistance levels with the primary bullish market condition.
  • 100 SMA crossed 200 SMA from below to above for uptrend, and 200 SMA is on bullish direction as well up to now.
  • If the price breaks 1207.22 resistance so the primary bullish will be continuing, if not so we may see the ranging market condition for this timeframe.
  • Next resistance level to be broken for the price to continuing with the bullish trend is 1223.91

D1 price is on primary bearish located below 200 period SMA and 100 period SMA with ranging market condition between 1142.69 support and 1223.91 resistance:

  • The price is ranging between 1142.69 and 1223.91 levels
  • Triangle price pattern was broken by close daily bar for uptrend
  • 200 period SMA and 100 period SMA are located above and very close to the price for possible breakout of resistance levels with the price reversal from the primary bearish to the bullish market condition
  • Time to buy gold ...?


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