Both have reversed down to test their respective 20 day EMA's
this morning after making divergent highs last week. Notice
the small doji candlestick prior to the drop today.
Not really Keith but with a divergent high you may want to put
some Fibs on the chart (along with the MA's) to monitor. The
daily oscillators have room to unwind to the downside. The first
level to monitor is the 50 day for the short term.
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Gold and Silver Daily Futures
Posted by steve on 14th of Jul 2014 at 08:42 am
Both have reversed down to test their respective 20 day EMA's this morning after making divergent highs last week. Notice the small doji candlestick prior to the drop today.
Gold Futures
Posted by keithw on 14th of Jul 2014 at 08:50 am
Steve,
Based on the chart you show, can you make any prediction as to how much further gold may drop in the next day or two before recovering?
Thanks
Not really Keith but with
Posted by steve on 14th of Jul 2014 at 08:57 am
Not really Keith but with a divergent high you may want to put some Fibs on the chart (along with the MA's) to monitor. The daily oscillators have room to unwind to the downside. The first level to monitor is the 50 day for the short term.