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Gold – prognosis via Dow Theory for calendar week 42/2015

AgenaTrader

Weekly chart:

Gold is still moving in a stable downtrend. In the last analysis the price was just able to stabilize itself at the last point two at $ 1071, but in the meantime the price has continued to decline, and now it seems as if it does indeed want to continue the downtrend.

Chart1

Daily chart:

After the last low point at $ 1052, gold was able to break away upwards again and arrived precisely at the last point three at $ 1088. Then began the present movement, which found its current end at $ 1047. In this trend size, too, the probabilities are also clearly on the lower side.

Chart2

Hourly chart:

Of course we can also see a valid downtrend in this trend size. This downtrend is clearly on the move. The last correction zone stretches from $ 1058 to $ 1078. As soon as the price comes into this zone and forms reversal signals, one can enter a short trade. The stop should then be placed above the red correction zone.

Chart3

I hope you will remain favorably disposed towards me and always remember: the journey is the reward!


All the best

Markus Gabel

Head of Sales / Trading

AgenaTrader / TradeEscort

AgenaTrader Trading Software

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