We have seen the COMEX Gold Future showing some fake signals during last weeks. Signals followed by very strong volumes, but, seeing the market price running the other way around.
Be careful when trading the Gold Future.
All the red arrows are showing examples of fake signals.
The blue line is an overall trending line being a strong support, if broken there is strong probability in seeing GC1! Gold Future running further down.
The top black line acts like a very strong resistance. We have seen the market testing it and failing to pass it.
The black line on the top is stronger and probably more difficult to break than the blue bottom line.
Sellers who came in strongly 3 weeks before have strongly impacted a Gold promised to stay above $2,000 last month. See how things change quickly.
It is probably better to stay away of the spot and wait for the Gold Future to show a clear direction after having broken a super strong line which are more visible in the Daily chart.
Be careful when trading the Gold Future.
All the red arrows are showing examples of fake signals.
The blue line is an overall trending line being a strong support, if broken there is strong probability in seeing GC1! Gold Future running further down.
The top black line acts like a very strong resistance. We have seen the market testing it and failing to pass it.
The black line on the top is stronger and probably more difficult to break than the blue bottom line.
Sellers who came in strongly 3 weeks before have strongly impacted a Gold promised to stay above $2,000 last month. See how things change quickly.
It is probably better to stay away of the spot and wait for the Gold Future to show a clear direction after having broken a super strong line which are more visible in the Daily chart.
