SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Dino's Bar & Grill
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: WalterWhite who wrote (39976)1/19/2018 9:37:16 AM
From: Andrew~Read Replies (1) of 203664
 
That candle in itself was bullish because it closed the gap, that had to close if Gold was going up. However, the candle was the fifth consecutive green candle and it took RSI (14) up to resistance so it was to be expected that Gold would drop back to the 10 ema and unwind the overbought RSI. ADX is also weakly bullish. If 10 ema fails as support then 20 sma has, historically, been good support, however at some point Gold will touch the lower Bollinger Band but when requires monitoring the daily chart. The chart shows a miniscule 30 cent gap at $1301.80
RSI (14) on the daily has been consistent resistance so once Gold touches that resistance I anticipate that it will unwind and then continue moving upwards step by step.

By "Upper Band" do you mean the double top where the gap was in September and when it was filled earlier this week? Double tops occurring further apart are weaker (and therefore less reliable as bearish reversal patterns) than those closer together (3 to 4 weeks).
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News