Gold - a bearish channel, also weak on 9-45 EMA & RSI strategy.

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
Gold has been consolidating in a bearish band for some time. It is forming bearish candlesticks for past few days.

9-34 EMA on Price and RSI is a strong system, it is giving a "Sell" weak even on that.

At the moment it is close to a strong support 1454, once it is broken 1435 is the lower band on the channel, if that is taken too 1420 - 1400 can be expected.

1480 should be the Stop for any short positions.

Silver is also WEAK on same EMAs on Price and RSI , trading near support of 16.74, once broken can slide down to 16.46. 15.98 levlels. Keep 17.66 as stop for short positions.

DM me if you intend to know more about 9,45 EMA on Price and RSI system.
This post is not an advice to speculate using leveraged products, one must thoroughly understand the financial implications, consult some financial adviser before taking any positions.

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Nov 27
Trade closed: target reached
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