The 5%ers' Blog

Will GOLD Succeed To Break Down The Uptrend Channel

April 11, 2019 | 10:53 am | The 5%ers' Blog
April 11, 2019 | 10:53 am
The 5%ers' Blog

11/04/2019

In 1 Hour chart, we can see the GOLD is in an uptrend which creates a clear channel.

we can also see a very clear divergence between the price and the MACD indicator,

this Divergence indicates that this uptrend became more and more powerless, this situation can create a reversal opportunity.

now we just need to wait and see if the price will break down This uptrend channel, if that happened, it’s a sign to look for price action setup for sell position, the first target for this position will be the support zone at 1280.00, and the final Target will be 1250.00 zone

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