GOLD 0.51% $1,391.7 gold futures

combining candlesticks

  1. 3,360 Posts.
    I was playing around a bit combining two candles into one (same as five daily candles being combined to make the weekly candle) and thought the candle of the last two days in the HUI was interesting. Its something not many people do but it can be quite insightful sometimes.

    Of course the trading day in the US has not finished as I write this, so of course it may change. If the HUI continues to rise then the candle becomes more bullish and vice versa. If it was to close at these levels or higher
    it would be quite a bullish candle showing a rejection of the break of support and buyers in control at the end of the (2 day) period.

    I have drawn the combined candle on the chart.



    Price and RSI are also forming a 'Class C' Bullish Divergence
 
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