Gold - Range bound but set for more downward action?
Hi guys!!
Gold clearly in a range in the weekly chart. Still correcting after making a triple top and now about to get to the half of the range and around the 56 period ema. Will it find support there and lateralize or will it keep correcting?
The indicators tell us that in regards to time the corrective wave might not be over yet and attention should be paid to level 50 of the RSI.
A strong area of interest is, in regards to price, around the $1785 level.
Take care guys! Hope it helps.
Gold clearly in a range in the weekly chart. Still correcting after making a triple top and now about to get to the half of the range and around the 56 period ema. Will it find support there and lateralize or will it keep correcting?
The indicators tell us that in regards to time the corrective wave might not be over yet and attention should be paid to level 50 of the RSI.
A strong area of interest is, in regards to price, around the $1785 level.
Take care guys! Hope it helps.
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