GOLD [US$/OZ] 11 MAY 2020
GOLDPivot Point: (65 day EMA) $1644.18
The long-term trend is considered up when GOLD is above the 65 day EMA
Our view: Long positions above (65 day EMA) $1644.18
Comment: GOLD remains Bullish above the $1644.18 level—Buy on a pullback into the value zone (area between the 13 & 26 day EMA)
Stop-loss: (26 day EMA) $1686.78
Alternative scenario: Below $1644.18 GOLD becomes Bearish, expect further downside to lower levels
Trading Methodology: Triple Screen Trading System by Dr. Alexander Elder (Pullback Trading Strategy)
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