Overview: Since our last analysis, Gold has been trading downwards, as we expected, the price tested the level of 1,339.56 on volume above the average. According to the daily chart, we can observe supply on the volume above the average, which is sign that we may see larger bearish corrective phase. We can also observe…

Gold price despite making a small upward bounce towards $ 1,360 yesterday, it has reversed lower implying that a bigger degree corective move is in play. The downward move in Gold is impulsive in nature and I will expect an upward bounce towards $ 1,375 before going short. This downward correction will at least move…

The major pairs are not moving much, so we turn our focus on gold, which has been trading higher lately. Gold has been rising for the last four days, with a strong continuation to the upside. However, it is approaching some major resistance levels, as can be seen on the accompanying daily chart. In the…