Gold made a bullish Engulfing yesterday and confirmed it with a strong move above 50 MA, making a bullish 8/20 EMA cross
However, the move was rejected precisely at 200 MA. The majority of indicators support a continued move upwards.
As the metal is overbought on the 1 and 4-hour frames, there is a possibility of horizontal movement for the next few days.
Today there is a CPI Data to be rolled out at US morning hours expected to be hight as compared to forecast that will fule Gold to bullish trend
However, the move was rejected precisely at 200 MA. The majority of indicators support a continued move upwards.
As the metal is overbought on the 1 and 4-hour frames, there is a possibility of horizontal movement for the next few days.
Today there is a CPI Data to be rolled out at US morning hours expected to be hight as compared to forecast that will fule Gold to bullish trend
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Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.