GOLD 0.51% $1,391.7 gold futures

Below is a weekly chart of Gold Futures. Gold has dropped over...

  1. 601 Posts.
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    Below is a weekly chart of Gold Futures.

    Gold has dropped over the past week bouncing off the 50w sma and closed below major TL resistance, however, weekly momentum remains bullish increasing. A positive sign going forward over the next couple weeks before another PB may eventuate. My base case remains bullish, however the price of gold needs to BO above major TL resistance shortly..

    The MACD formed a bullish up-cross during mid-Q1 with an expanding positive histogram and has expanded further since, however, the histogram has decreased negligibly over the past week. The Stochastic formed bullish higher-low's since the start of the year and becoming oversold (>20) during mid-Q1. Continuing to ascend after dipping to form a bullish higher-low, and potentially dipping again.

    20170428_goldW.jpg
    Last edited by Jagster Trading: 29/04/17
 
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