HF Master Card

Commodities | Indices Blog - Forexmospherians.com

Technical Analysis | GOLD MONTHLY

Chart 5-1-2016 Gold Monthly Time Frame. Gold is seen as an over all up Trend but more recently Gold sellers have taken control of the negative market sentiment, found on Dovish counter from the last top. Gold is now stalling the bear counter and finding more support, this is identified through the price action breaking through the Resistance of a sloping downwards Channel. Lets see if this latest move proves to be more aggressive over the coming weeks which would offer Bulls the long awaited confidence needed to boost them in the current market climate. Gold buyers should put this on the one on the watch list.

E-mail me when people leave their comments –

Genxtrader
Forex Trader, Commodities
Previous Contributor: FXstreet, Forexmosgate, Forexmospherians.com
Currencies: Various: Scalp, Swing, Trend Trader
Technical Market Analysis, Site Administrator, Moderator

Comments

  • Nice Chart Genxtrader and thanks for sharing, will catch up with you later and just off for a cuppa!

  • That is a perfect pattern example.

  • This is a current market shot of the condition of the weekly and daily gold charts.

This reply was deleted.

You need to be a member of Forexmospherians - Forex Traders Social Network to add comments!

Join Forexmospherians - Forex Traders Social Network

Commodities & Indices Blog - Forexmospherians.com

Helpful Hints

Trading Forex, Commodities and Indices and more. Sign up and sign in maybe required to see or use other features and pages. Free site membership so why not join today and gain access to see more?