26 February 2023
13:13 (WIB)
In this current situation, The Bearish Market has definitely already taken control of the Gold with descending move that seems will stop at MA200D of the one-day trading session at $1.775 point. The Stochastic RSI shows how dominant the Bears take control of the statistic in a very low and at the bottom lines of the Oversold zone. That means the Bearish Downtrend is on a very strong movement. It is a falling wedge structure indeed. I would rather wait until the price move lower and hit the $1.775 area, and open buy orders expecting the price will start to move higher and higher. Considering the one-day trading session has hit the oversold zone.
13:13 (WIB)
In this current situation, The Bearish Market has definitely already taken control of the Gold with descending move that seems will stop at MA200D of the one-day trading session at $1.775 point. The Stochastic RSI shows how dominant the Bears take control of the statistic in a very low and at the bottom lines of the Oversold zone. That means the Bearish Downtrend is on a very strong movement. It is a falling wedge structure indeed. I would rather wait until the price move lower and hit the $1.775 area, and open buy orders expecting the price will start to move higher and higher. Considering the one-day trading session has hit the oversold zone.