Technicals are shaping up for a strong bull move, as for technical we have Price divergence and MACD Divergency, so the technicals are showing an upside, also while big institutions are buying gold by the bucket and hedging against futures with options, this suppresses the price.
Now what concerns retail investment, we can start positioning to the long side and start closing the shorts at this stage.
We can see the selling volume is decreasing tremendously, momentum is growing to the upside, now volume needs to play a part here to see prices moving in that direction.
What We Want to See
Want to see MACD continuing to move upwards, RSI to cross above 30 and the price on the chart move in that direction meaning 2 green bricks for good measure. Then is time to buy.
Polite Reminder
PLEASE ENSURE TO DIO YOUR DUE DILIGENCE, This is not advice to buy or sell anything is simply my view of the instrument can be discretional as most likely it is.
Now what concerns retail investment, we can start positioning to the long side and start closing the shorts at this stage.
We can see the selling volume is decreasing tremendously, momentum is growing to the upside, now volume needs to play a part here to see prices moving in that direction.
What We Want to See
Want to see MACD continuing to move upwards, RSI to cross above 30 and the price on the chart move in that direction meaning 2 green bricks for good measure. Then is time to buy.
Polite Reminder
PLEASE ENSURE TO DIO YOUR DUE DILIGENCE, This is not advice to buy or sell anything is simply my view of the instrument can be discretional as most likely it is.