Case for a buy - if price closes above the 9 ema , gold may be a buy towards the .618 retracement.
Case for a sell - if price closes beneath the 14 ema , gold may be a sell towards an equal legs projection towards 1001.
A move to the downside seems likely because
i. Price has nearly made a 50% retracement.
ii. Hidden divergence is present. ( it may or may not be significant).
iii. That RSI ticked below 70.
iii. Risk reward favours the downside.
I would appreciate any assistance, with comments or ideas.
Case for a sell - if price closes beneath the 14 ema , gold may be a sell towards an equal legs projection towards 1001.
A move to the downside seems likely because
i. Price has nearly made a 50% retracement.
ii. Hidden divergence is present. ( it may or may not be significant).
iii. That RSI ticked below 70.
iii. Risk reward favours the downside.
I would appreciate any assistance, with comments or ideas.