KLSE Stocks Review

Gold

ChartStory72
Publish date: Tue, 13 Apr 2021, 03:14 PM
ChartStory72
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Gold 
 
Let's do something differently today, everyone loves Gold right? 
 
Overall we see a downtrend here, as prices are forming lower lows for the past 8 months. Notice that the respected resistance level is 3/1 level as it is tested thrice. Prices tried to forcefully break that resistance on Jan but failed to do so as there is a 2nd layer defense, which is the 4/1 level. 
 
Now, we see that prices are also testing the 0.382 + 2/1 level combined for rebound. For that reason we know that at those level in particular is where World Central Banks are taking profits. Where they closing their Short Sell positions on Gold. How to find the next rebound position if you are on Short Selling too?
 
The next location would be the 2/1 + 0.236. A strong reversal should happen here. Or else The Central Banks would drag the timeline for too long.  
 
In this fast-moving digital world, we get information in a few clicks. 
However, we rarely get first-hand information and more often we get misleading news.
Investing in stocks today is very different from the past, but one thing hasn't changed - to study about a stock before putting money in.
 
A stock chart contains data that is publicly available and accurate by itself. By having certainty in data quality, we can comfortably study charts and make investment judgements.
At Chart Story, we believe stock prices move for a reason. Our objective is to share what we believe.

 

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