Fantastic session. Black decreasing trend line is broken. Todays candle stick is a marubozu, which shows how powerful the bulls were. New narrow yellow channel may set a new guidance. Next challenge is to get rid of the supertrend. Stochastic is in great shape. Momentum and Macd are kind of recovering
If you are bullish on gold, you can:
- Buy gold if it pulls back on 7MA. Target: 1145 (next resistance). Stop loss if close below 20MA.
If you are bearish on gold, you can:
- Short sell gold near to supertrend. Target: 20MA. Stop loss if close above supertrend.
I’m personally bullish
Have a good trading day
This is not advice; this is just what I would do.
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