DraperFischerJurvetson

Gold Break Out Near ?

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OANDA:XAUUSD   Ouro/Dólar Americano
Based on three MAs, 200,100, and 55 When those three come together in a narrow range, its time to set a new direction for gold. And when the 55 and 100 meet at the top, there could be initially a drop and then when the support of MA 200 breaks, it goes deep downward move. So, I am expecting Gold to break the MA 200 early next week, as the market tone at the close on Friday was bearish. Also, worth noting is 4H Bearish Engulfing at the Close of Friday that sets the tone of Bearish opening on early Monday, which supports a strong momentum downward. I am expecting a break of MA 200 at 1,714 which will spell a new direction to downward. Which is about time.
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