GOLD H4 | Our expectations:
Head & Shoulders formation and a breakout over the neckline makes it possible, after a slight adjustment, to look for long positions in the zone over 1258.50 with stop 1248.00.
Price over horizontal and diagonal supports and very strong trend reversal signal from the activated formation.
The price breaks the consolidation over the SMA50 breakout test - a positive signal.
Here DeM (14) gives probability to wait for a correction because it is in an overbought zone - we expect a better price around 1258.50
The positive sentiment against the dollar cooled after the rise in the unemployment rate on Friday and this is positive for the price of the precious metal.
Read more:
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.