Monthly chart: a downward correction does not look as finished. We are waiting for the index to move to the lower Bollinger band (1796.0), from which probably some roll back in the upward direction will take place.
Weekly chart: an apparent inside bearish bar and very active ADX also confirms the focus on support 1796.0
Daily chart: intermediate support lies at 1858.4 (lower Bollinger band).
Expectations: falling to 1858.4 and 1796.0.
1) Sales to 1858.4 and 1796.0.
Monthly chart: It seems that bulls have put a trap - the strongest and seemingly correct bullish pinbar calls for purchases, but it happens on the background of a new downward move to the lower Bollinger band, which has put itself under the mark of 35.00, and also very active ADX.
Weekly chart: we also have duality of signals - expressed bullish convergence oscillator against pinbar to sales and expanding envelopes. Bears can sell from 50% area of the pin - 51.50.
Daily chartк: local support at 43.44 (lower Bollinger band).
Expectations: decline to 43.44
1) Sell from 51.50 to 43.44
Monthly chart: inside bar after break of the bottom envelope - a good signal for the continuation of declin.
Weekly chart: local support at the lower Bollinger band (1086.04). ADX is inactive, so we're not waiting gold to get deeper this week.
Daily chart: we are to reaffirm support on the lower band (1086.04), on which bounce to to 1124.74 (middle band) is likely to happent.
Expectations: decline to 1086.4 and bounce t0 1124.74
1) Selling to 1086.04
2) Buy from 1086.4 to 1124.74
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