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Gold: Cycle Low Next Week?

Published 04/25/2017, 10:48 AM
Updated 07/09/2023, 06:31 AM

Gold has given us a couple of confirmations that it is dropping into its daily cycle low. First, gold has closed below its 10-day moving average and second, it has traded below its daily cycle trend line. However, it's too soon to buy this setup as this video will explain.

Latest comments

After sundays french election results, precious metals keep continue down trend and made a hold near 2 week lows.. . Precious metals lost more than 1% yesterday, so expectation of profit booking will come today onwards. . we should expect weak of gold prices below $1275 lewel, if gold closes blw this range and it should reach around $1250 range in few sessions. ... according to us, for intraday and holding strategy in xau and xag. . sell xau and xag at current rate $1277-1280 range and $17.990-18.050 range and keep sl $1287 and $18.220 and tgt1 $1250+$17.380 and tgt2 $1238+$17.020.mm--SEE OUR LAST WEEK'S SELL CALL @1288 AND 18 RANGE AGAIN CONTINUE IN XAU AND XAG AND WAIT ABOVE TGTS..... SELL GBPUSD 1.2828-2833 RANGE AND KEEP SL???. . AND TGT1 1.2728. AND TGT2 1.2655.MM
Gold is bound to drop down till $1229 imo
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