The Daily View for Gold
- At the moment, XAUUSD’s price is up $24.72 (1.39%) from the day prior.
- This is the 2nd day in a row Gold has seen its price head up.
- As for the trend on the daily timeframe, we see the clearest trend on the 100 day timeframe.
- Regarding moving averages, it should first be noted that price has crossed the 20 and 50 day moving averages, resulting in them so that price is now turning above them. The moving averages on the daily timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
- Divergence between XAUUSD’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in XAUUSD’s price.
Below is a daily price chart of Gold.
Featured Gold Idea From TradingView
Below is a trading comment entitled THIS IS NOT THE END OF THE BITCOIN BULL RUN! Key Fractal Pattern you may find interesting:
Hello! Hello! Hello! It has been a while my fellow traders. I do hope everyone is doing well in these tough times. Isolation is hard, lack of connection is hard, love is faint. Hang in there and be in the present. Your emotions will not get to you that way (which is easier said than done). If anyone needs a chat, feel free to message me anytime. We should all be here for each other. Anyway, whilst I was looking for questions on whether Bitcoin has found resistance at this supply zone or whether it will breakthrough and continue, I was scrolling through the Bitcoin charts to scan for any fractal patterns we might observe for a clue. It seems as though we have a very similar fractal pattern present on the first Elliot wave c…