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Sunday, November 10, 2019 8:19:25 AM
By: Carl Swenlin | November 8, 2019
* (Click Read Full Story »»» at the bottom of the page for the charts to appear on the post)
GOLD
IT Trend Model: NEUTRAL as of 11/8/2019
LT Trend Model: BUY as of 1/8/2019
GOLD Daily Chart: On Friday the 20EMA crossed down through the 50EMA, changing the IT Trend Model signal from BUY to NEUTRAL. Gold has encountered the line of support drawn across the October low. If that doesn't hold there is another support line, which begins at the top of the area of congestion that formed in June and July. The most important support is at 1375, the origin of which will be seen on the weekly chart.
GOLD Weekly Chart: Part of a bullish saucer with handle formation can be seen in this time frame. On the bearish side, the weekly PMO has topped in overbought territory.
Read Full Story »»»
DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
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