GOLD update for 11 March 2020
Daily Data Summary Suggests:
Current Daily Trend (price relationship to the trend MA) is Bullish
The price relationship to the moving averages currently suggest closing longs and protecting profit.
The market is transitioning toward a Bearish sentiment.
The anticipated upcoming trade range is between 1617.58 - 1655.97
Prices have broken through the consolidation low
If GOLD is capable of maintaining the current strength as of today, the projection generated from the daily chart is a target price of 1586.37 - 1615.69
Price movement has returned to the Trending Moving Average this suggests either a stall while averages catch up to the prices or a turn in the prices in the opposite direction
The RSI that monitors bullish strength has a current daily reading of: Bullish
The RSI that monitors bearish strength has a current daily reading of: Neutral Bull
The strength demonstrated over the last 5 days is currently: Bearish
Comments:
Slight profit taking before turning back upward. Weekly price target of 1753 exists.
STD DEV for 12 March 2020: 1599.88 - 1667.76
** If data does not significantly change between trade dates, a daily update may be skipped. Monthly and Weekly updates will always be provided. **
Current Daily Trend (price relationship to the trend MA) is Bullish
The price relationship to the moving averages currently suggest closing longs and protecting profit.
The market is transitioning toward a Bearish sentiment.
The anticipated upcoming trade range is between 1617.58 - 1655.97
Prices have broken through the consolidation low
If GOLD is capable of maintaining the current strength as of today, the projection generated from the daily chart is a target price of 1586.37 - 1615.69
Price movement has returned to the Trending Moving Average this suggests either a stall while averages catch up to the prices or a turn in the prices in the opposite direction
The RSI that monitors bullish strength has a current daily reading of: Bullish
The RSI that monitors bearish strength has a current daily reading of: Neutral Bull
The strength demonstrated over the last 5 days is currently: Bearish
Comments:
Slight profit taking before turning back upward. Weekly price target of 1753 exists.
STD DEV for 12 March 2020: 1599.88 - 1667.76
** If data does not significantly change between trade dates, a daily update may be skipped. Monthly and Weekly updates will always be provided. **