Monthly chart: scenario of reversal is justifying itself. Northern marks are still achievable, but the bullish momentum has depleted to a notable extent.
Weekly chart: support on the bottom Bollinger band is still relevant (2048.4). It seems, that a further decline appears to be possible only after one more correction.
Day chart: flat from Bollinger envelopes. We are waiting when the index reaches support 2043.3 and bounces to the middle band (2090.0)
Expectations: drop to 2043.4 and bounce to 2090.0.
1) Sell to 2043.4
2) Buy from 2043.4 to 2090.0
Monthly chart: Bears are actively penetrating the June inside bar and continue to focus on the bottom Bollinger band (42.64)
Weekly chart: local support at 54.73 can be some hindrance, but ADX is active, so we are waiting for a further breakdown.
Day chart: more localized support at 53.56 may slightly correct the price, but the overall descending scenario regarding oil is obvious.
Expectations: this week 53.56 can be reached and a small upward correction prior to a new decline to the medium-term target 42.64.
1) Keep Sell trade open to 53.56 and 42.6
Monthly chart: pressure on the support from the bottom Bollinger band is growing, ADX is close to the trendline area. Everything shows readiness of gold to fall in the near future under the psychologically important level of $ 1,000 per ounce and leave in its price only three digits before the decimal point.
At the same time, we can not exclude one more pre-correction towards the middle Bollinger band zone.
Weekly chart: the lower envelope is broken , which is a strong short signal. We are waiting the gold in the middle band(1180.70) and a medium- to sell with the targets set below 1000.00.
Day chart: the price has just knocked the bottom envelope. The middle Bollinger band is more localized - 1147.42.
Expectations: an upward correction to 1147.42 and beginning of a medium-term decline with the target around 950.00.
1) We shall sell from 1147.42.
Do you have any suggestions to make our website better? Have you noticed an error on the site? Tell us