Loading ...Gold line in the sand
Anybody looking to sell should try to remember this chart, EMA 95 sits @ 1208, if I remember right this was an important resistance zone in the run up, it is only fitting that it should act as support on the way down. Hard to argue with the track record.
Agree…I used the 90WEMA but 90 95 not much difference
They are curling up and the price is above and now retesting
https://stockcharts.com/h-sc/ui?s=%24GOLD&p=W&yr=5&mn=0&dy=0&id=p75720988583&a=451090536
I will do a Spock and say I looked at your chart and didn’t analyse it. What did I see first? The very first thing I thought was, “It looks like a megaphone might be forming since the $60 up day in mid-February.”
Where you put the question mark on the chart, I would write: “Megaphone?”
Some are touting a move to $1208. If that happens, then it will look even more like a megaphone is forming.
Oh oops, you have mentioned $1208 as well! I was thinking of some other commentators online, cannot think who, maybe Peter Hug or Rick Ackerman. Anyway, yeah, 1208 would be interesting. If it reverses at $1208 and goes up above $1305 (to the ‘Matterhorn’) and then reverses back down, it would be a textbook megaphone.