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- Bearish divergence on the H4 using stochastics
- Price seems to be rejecting the major daily resistance level of 114.33 and started to consolidate on the H1 before breaking out this zone to the downside
- Could see price heading towards 113.00 as it fulfils the fibonacci 38.2 level on the D1 as a well due retracement after consecutive bullish moves
I see a key date of Feb 19 for a defined trend showing either a bullish breakout at the end of the wedge which appears to be in equilibrium at $8600 or a resumption of the bearish trend seen so far in 2018. Key drivers are FUD feeding the bears and 'a lack of FUD' feeding the bulls (unless another 'Giancarlo SEC hearing type moment' occurs). Perhaps more news on ...
Political tensions between US and Russia and the uncertainty in the Eurozone affected global markets yesterday. Investors were seeking long positions on safe havens such as Gold and the Japanese Yen.
Gold was up $17 yesterday, it has now touched the 1.618 Fib level of the December to January 2017 rally.It acted as a nice resistance and I see the metal correcting ...