Spot Gold.
The market drove the gold price down and closed below the open price of previous bullish candlestick.
This bearish engulfing is the first sign of bearish movement. It is also found near the resistance zone in mid-June 2018. Therefore, it makes sense for a technical correction.
Conversely, this Australian gold mining stock SAR behaved very well from the demand zone of December, the price has shooted more that 36%, and closed at the top of the resistance trendline of the orange channel.
Because of the Australian market closed earlier than US market. There is no sign of reversal.
We need to see the opening price on Monday carefully, watch out below candlestick patterns, you need to prepare an exit, as the gold price is retracing possibly back to any golden ratios.
Bearish engulfing,
Dark Cloud cover,
Bearish Harami,
One Black crow.
Thanks for reading.
The market drove the gold price down and closed below the open price of previous bullish candlestick.
This bearish engulfing is the first sign of bearish movement. It is also found near the resistance zone in mid-June 2018. Therefore, it makes sense for a technical correction.
Conversely, this Australian gold mining stock SAR behaved very well from the demand zone of December, the price has shooted more that 36%, and closed at the top of the resistance trendline of the orange channel.
Because of the Australian market closed earlier than US market. There is no sign of reversal.
We need to see the opening price on Monday carefully, watch out below candlestick patterns, you need to prepare an exit, as the gold price is retracing possibly back to any golden ratios.
Bearish engulfing,
Dark Cloud cover,
Bearish Harami,
One Black crow.
Thanks for reading.
