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Sunday, 3 November 2019

Updated Technicals on Gold: 3 November 2019, Sunday


Updated Technicals on Gold:
3 November 2019, Sunday
(Click on the Technical Chart Above to Expand)

Attached is the Updated Technicals on Gold ETF which is pegged to Gold Spot Prices. Gold ETFs have undergone bullish flag pole coupled with bullish flag pole volumes. Further to that it has completed the corresponding bull flag consolidation in drying volumes (meaning upmove sustainable, weak holders shaken out), and has broken out for more flag pole upmove as illustrated. The flag pole measurements are proportional in 1x to 1x ratio. The SCTR strong maintenance while consolidation done in MACD means the bullishness in Gold is an ass-kicking strong one.

The Donovan Norfolk Technical Rating:
Bullish immediate term, short term, mid term and long term -- all 4 time frames.


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