Sabtu, 30 November 2013

Forecast - 2013.11.30

A CONTRADICTION

Gold is making a confusing situation for me to guess where it is going to head.

In H1 chart, it is obvious that 1255 is a resistance area which the current price probably will make Three Tops pattern if it can't go through higher. Just check the H1 chart below.














But then, there are some contradictory clues, which are seen in the Daily chart below:











From the daily chart, there are at least 3 clues that contradicts the H1 chart which is probably making Three Tops pattern (sign of bearish). There are:
1. Price already broke the daily resistance
2. There is a Higher Low, indicates that probably gold is making a new path to the upside
3. My daily WPR and RSI are probably making a golden cross, which I usually use in daily chart as a confirmation for an uptrend.

Conclusion:
I prefer to guess the bear is not finish yet, since there is no support from the fundamental for the bull.
As long as the price not making a Higher High, which is breaking above 1258, I still hold for the bear.
We'll see soon if my guess is correct or wrong.

GG - 2013.11.30


1 komentar:

  1. Hi,

    Kami tertarik untuk menawarkan afiliasi kepada anda.
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    Regards,
    Yudha
    Business Development
    ForexMart
    www.forexmart.com
    yudha@forexmart.com
    Skype - Yudha_8888777

    BalasHapus