It would be a huge surprise to all technicians if this commodity would blow up to the upside now. I understand that surprises happen, but, common! It just has to touch the 1296 level!
Ok, let's forget about all my dreams of certain levels and get back to reality.
The bias is still to the downside. There could be a situation, where this will try to touch the SMA of the Bollinger Band from underneath and then move downwards. Or maybe it will be enough for GOLD just to sell-off straight away, without touching the SMA.
Somehow I think that this touch of 1296 might happen tomorrow or on Friday, basically by the end of this week.
Also, I think that today's volatility could add some fuel to it. Let's wait and see.
Keep an eye on the price action!
Ok, let's forget about all my dreams of certain levels and get back to reality.
The bias is still to the downside. There could be a situation, where this will try to touch the SMA of the Bollinger Band from underneath and then move downwards. Or maybe it will be enough for GOLD just to sell-off straight away, without touching the SMA.
Somehow I think that this touch of 1296 might happen tomorrow or on Friday, basically by the end of this week.
Also, I think that today's volatility could add some fuel to it. Let's wait and see.
Keep an eye on the price action!
