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Showing posts with the label rebound

Gold bullish above 1215$

Hi all ,  This is friday and it is better to leave your accounts clean without any open trades to start next week fresh. I have been buying gold this week anywhere near 1215-18$ and this is beacause of the chart below. You can see there is a daily trend in the make. The yellow metal has fallen almost 80$ since macron winning first round of french elections and there is a minor gap which might be filled in near future. SO I am bullish as long as we dont close below that trendline on a daily basis. On the 1h chart , there is also a trendline being made and you can go long anywhere in the area close to 1223$ . RSI is also showing a trending pattern and this is signaling a rebound to 1240$ as first target after tackling1232$... Feel free to contact me anytime.

Platinum trade update

Here is an update regarding my previous recommendation to go long on platinum. I am still holding my positions and 2 below charts will explain why. On the daily chart , We have very critical support level at 927$ , So we might see a rebound here targeting 980$ and 1010$ and It will be explained using the 4h chart. we have 927$ playing as support many times on the daily chart going back to 23 sep 2015 and two times during feb 2016. On the 4h chart shown below , we have a trend line starting at 1200$ area and passing by many tops . we expect a rebound from 930$ till 983$ next week by 19/10 ...If trend line broken on that test , we will get to 1010$ area . If we didnt see a rebound by next week and test on 19/10 , we will see a test of trend line probably at 960$ area on 27-10