Gold formed a fourth straight week of bullish higher-high's and higher-low's, closing near its lows on major trend line resistance..

in money •  8 years ago  (edited)

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Gold had an up-and-down week, largely due to the bullish lead, and bearish (Comey Testimony) end. Still managed to form a fourth straight week of bullish higher-high's and higher-low's, with a possible ST double-top. Closed the week near its lows and on major TL resistance from 2011/12/16/17. Possibly may drift lower from here in the ST, however, weekly momentum still remains increasingly bullish.

The MACD formed a bullish up-cross during mid-Q1 with an expanding positive histogram. Since then some retraction has occurred during early-Q2, however, has since recovered and appears more bullish than not. The Stochastic formed bullish higher-low's since the start of the year and becoming oversold (>20) during mid-Q1. Continuing its bullish ascent after dipping moderately during early-Q2. http://bit.ly/2saWqbY

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