From technical perspective on Gold for me at moment its 50 - 50 chance for both sides. I agree that we got reversal indication on daily chart, bullish pin was broken high into bullish trend by bear candle which is almost always 100% reliable information for trend end or strong pullback to come in place. We are in nice momentum swing and reversal might be corrected quickly if it happens, wihch means that it has to happen in Monday or day after. Weekly chart is bullish, kijun decline, momentum passing into bullish side but more importantly i dont think that this middle area high was actually where shorts were picked up, we need to proper test more important high and resistance above before deciding later move. Monday or day after will tell if we bounce up then we will test this weekly high and 1400, becouse we are on decision point of bounce on h4. Ukraine should or could help to add some momentum on up side.
http://prntscr.com/2x517p
http://prntscr.com/2x51is
We are on similar situation on GJ kijun decline and besides that all other analysis points up for now.
http://prntscr.com/2x52q4
This is where i am considering longs on break of this bearish pin
http://prntscr.com/2x52z4
We have also completed quite agressive GA move on upside which i was calling last week and early this week and it was completed.
http://prntscr.com/2x534n
Also setup coming on GN, quite straightforward.
http://prntscr.com/2x53j1
AJ, if bullish side is to be picked up again we need to make strong moves in next few days, only strong going on up side can pick up the up side again. Breaking current support is bearish.
http://prntscr.com/2x53t0
EU weekly we are setup for 1.40, sellers from 1.38 have come but it was too weak attempt this wont hold on short side. Momentum is loaded for short side on weekly but thats usually perfect setup for breakout trade in oposite direction - long in this case.
http://prntscr.com/2x54hy
EA further up
http://prntscr.com/2x54x1
Two things to add:
1.EU up is only technicall analysis i am still expecting rate cut to come in March which will reverse trend most likely.
2.Does anyone know where to get reliable info of date when Chinese will release their offical gold reserves number? So far i heard speculations about April but i am not sure if that is true. This will have major impact on gold and there is only 1 way where its gona go when numbers are out.
http://prntscr.com/2x517p
http://prntscr.com/2x51is
We are on similar situation on GJ kijun decline and besides that all other analysis points up for now.
http://prntscr.com/2x52q4
This is where i am considering longs on break of this bearish pin
http://prntscr.com/2x52z4
We have also completed quite agressive GA move on upside which i was calling last week and early this week and it was completed.
http://prntscr.com/2x534n
Also setup coming on GN, quite straightforward.
http://prntscr.com/2x53j1
AJ, if bullish side is to be picked up again we need to make strong moves in next few days, only strong going on up side can pick up the up side again. Breaking current support is bearish.
http://prntscr.com/2x53t0
EU weekly we are setup for 1.40, sellers from 1.38 have come but it was too weak attempt this wont hold on short side. Momentum is loaded for short side on weekly but thats usually perfect setup for breakout trade in oposite direction - long in this case.
http://prntscr.com/2x54hy
EA further up
http://prntscr.com/2x54x1
Two things to add:
1.EU up is only technicall analysis i am still expecting rate cut to come in March which will reverse trend most likely.
2.Does anyone know where to get reliable info of date when Chinese will release their offical gold reserves number? So far i heard speculations about April but i am not sure if that is true. This will have major impact on gold and there is only 1 way where its gona go when numbers are out.