GOLD, daily MA100!

gold 24.05.

Gold started the week optimistic in Monday and reached 1232.42 after wich had retreated down and close the day at 1225. On Tuesday the gold has tubledown for $20 and fell true the Daily MA200&100 easily, after wich the Daily MA100 has become resistance over wich gold didn’t manage to pass true for the next three days. What interesting is that, the same MA100 holds gold on the way up in the last three months, if we exclude the last bullish week. What next? 1195/1200 could be support here for several reasons, you can see at my chart why, but on the way up, we have the same ‘problem’ again, daily MA100, plus 200 has joined now.  The gold has find support at 1201 in the last two days of the week, closing up at 1205, let’s see how will this ended in the upcoming days. Gold is always interesting to analyse and trade for me.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s