GOLD [US$/OZ] 11 MAY 2020

GOLD

Pivot Point: (65 day EMA) $1644.18

The long-term trend is considered up when GOLD is above the 65 day EMA

Our view: Long positions above (65 day EMA) $1644.18  

Comment: GOLD remains Bullish above the $1644.18 level—Buy on a pullback into the value zone (area between the 13 & 26 day EMA)

Stop-loss: (26 day EMA) $1686.78

Alternative scenario: Below $1644.18 GOLD becomes Bearish, expect further downside to lower levels  

Trading Methodology: Triple Screen Trading System by Dr. Alexander Elder (Pullback Trading Strategy)