Gold Analysis

Gold Analysis
Gold Analysis

Well as expected it was bullish yesterday and rose to the top of the 20 day Raff at 1200, unfortunately not sipping to the long entry at 1185 before it rose. Stalled a bit now its hit the top of the daily channel, top of the 20d raff is 1205 now, with the 10d at 1210 – just above the 200ema on the daily at 1208.7. As such we may some bears appear at that level later, though the 30min chart is starting to go a little bit bearish already with an EMA cross. The pivot is 1197 so support there, with 1192 and 1188 supports below that.

Dip to pivot and rise I am thinking so long 1197, stop 1195, target 1205+