AI
Wednesday, September 19, 2018 8:06:23 PM
$XAU - one never knows? If you look for something specific? It's much easier to see after the fact. There isn't any one rule that applies to every situation.
I've looked for the progression of price action, compared to the mainstream major moving aves (20, 50, 100, 200). A lot of times, when the pps hits the moving ave for the first time, it gets sold off. The more times it hits it, the less selling pressure it receives.
In the case of the Philly gold and silver index, it is now past the 20 day sma.
It will be interesting to see if it progresses to the 50 sma and if the 20 is support?
I've looked for the progression of price action, compared to the mainstream major moving aves (20, 50, 100, 200). A lot of times, when the pps hits the moving ave for the first time, it gets sold off. The more times it hits it, the less selling pressure it receives.
In the case of the Philly gold and silver index, it is now past the 20 day sma.
It will be interesting to see if it progresses to the 50 sma and if the 20 is support?
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