Gold could go back down - page 8
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(MA)89 on the monthly time frame is at 1280, it's normal it bounced off that level.
Why not using MA(200) instead (as usual)?
Gold continues ranging today. I wonder how much longer this will last.
Why not using MA(200) instead (as usual)?
I don't know, I'm just used to it, I guess. Now that you mentioned it, I should probably check (MA)200 too.
I don't know, I'm just used to it, I guess. Now that you mentioned it, I should probably check (MA)200 too.
Almost all market makers use it. That is why I mentioned it
Almost all market makers use it. That is why I mentioned it
I'll definitely keep it in mind.
Do you think Gold will fall as low as 1200 again?
I'll definitely keep it in mind.
Do you think Gold will fall as low as 1200 again?It can (gold is extremely volatile) but it will not mean that the trend is changing. Bullish trend on gold is here and that 1200 is more like a support than anything else
I agree, Gold has to break below 1200 if we want to talk about a trend reversal.
It can (gold is extremely volatile) but it will not mean that the trend is changing. Bullish trend on gold is here and that 1200 is more like a support than anything else
True. I do think that Gold will keep rising, but at the moment we may see some retracement back to 1230, considering the doji candlestick on the daily time frame.
True. I do think that Gold will keep rising, but at the moment we may see some retracement back to 1230, considering the doji candlestick on the daily time frame.
Yes, that level can be revisited, but we shall see next week. Obviously Gold and Euro are in a correlation - wonder for how long
Yes, that level can be revisited, but we shall see next week. Obviously Gold and Euro are in a correlation - wonder for how long
We'll have to wait and see. I also wonder how much longer the Gold consolidation will last.