| Gold | Gold has had a huge run so far this year reaching a peak of 1297.2 last week. A lot of the price action could be contributed to global risks such as the French elections that were in a lot of investors mind. The 5 and 10 EMA just a bearish cross and stochastics are showing that the metal is facing downward pressure. The next target will most likely be the 38.2 % retracement line which also corresponds with the 200DMA. | $1,258 | 1265.2 | Speculators have most longs since November 2016. This could be a sign they would have to sell position en masse. | Bearish | 4/25/17 |
No comments:
Post a Comment