Gold - Correction is done. Sell again
Weekly:
- Ichimoku setup is still bearish. Please not that a new strong bearish Tenkan/Kijun cross is emerging.
- Heikin Ashi bullish bias softens, haDelta/SMA3 may turn down, but the week is still ahead of us. Oscillator couldn't switch to bullish during this correction.
Daily:
- Correction extended higher than I previously expected (pls see links below). by the way, that's why I do not like to put on exact price targets neither short nor longer term. As you see we can never know how long a trend, a swing or a counter trend lasts.
- Ichimoku setup is from neutral to rather bearish. Important signals: Tenkan/Kijun is attempting to make a weak bullish cross, but it has relevance only in terms of stronger support/resistance ard 1183. Chikou Span faced resistance at past Kumo and price candles.
- Heikin Ashi candle on Friday was an inside bar (decreasing buying power) and haDelta/SMA3 crossed down. Today we have a confirming bearish candle with haDelta further down.
After all, Gold seems resuming bearish price action again.
- Ichimoku setup is still bearish. Please not that a new strong bearish Tenkan/Kijun cross is emerging.
- Heikin Ashi bullish bias softens, haDelta/SMA3 may turn down, but the week is still ahead of us. Oscillator couldn't switch to bullish during this correction.
Daily:
- Correction extended higher than I previously expected (pls see links below). by the way, that's why I do not like to put on exact price targets neither short nor longer term. As you see we can never know how long a trend, a swing or a counter trend lasts.
- Ichimoku setup is from neutral to rather bearish. Important signals: Tenkan/Kijun is attempting to make a weak bullish cross, but it has relevance only in terms of stronger support/resistance ard 1183. Chikou Span faced resistance at past Kumo and price candles.
- Heikin Ashi candle on Friday was an inside bar (decreasing buying power) and haDelta/SMA3 crossed down. Today we have a confirming bearish candle with haDelta further down.
After all, Gold seems resuming bearish price action again.
