AU 4HR chart analysis:
price retreat from 100 SMA as of now.100 SMA is still below 200 SMA.current retreat phase can be number 2 of wave up,one more wave up may come(or it
may fail).fundamentally there is not much reason of sudden and relatively sustained up move and actually fundamental is still bearish.and so current up move
is suspicious and MM may just be at their manipulative best.for shorter,at the worst,the price may climb up one more wave higher and suddenly and sharply dropped in which it may be better to hold the position.at best,price may range for a while and short positions can be exited on swing low without much loss.price play on Monday will be crucial to know the direction for following days of the week.
price retreat from 100 SMA as of now.100 SMA is still below 200 SMA.current retreat phase can be number 2 of wave up,one more wave up may come(or it
may fail).fundamentally there is not much reason of sudden and relatively sustained up move and actually fundamental is still bearish.and so current up move
is suspicious and MM may just be at their manipulative best.for shorter,at the worst,the price may climb up one more wave higher and suddenly and sharply dropped in which it may be better to hold the position.at best,price may range for a while and short positions can be exited on swing low without much loss.price play on Monday will be crucial to know the direction for following days of the week.
-CKB
