It has been a bullish market for Gold since January 2016, with the year's low still at $1061.68, which was seen by January. The price never got lower than that since then, after the January market for gold opened at $1062.30. It has surged up higher since then. The gold market for the month of March closed in a way that suggested a bearish market for the coming weeks, but this was invalidated by the way the last month candle closed.
We saw a breakout of March highest price by April's price. With this breakout, which also showed up on the daily and weekly candles, it would be a nice idea to go long on Gold. I bought some shares on gold at $1288.50 to take profit around $1390.00.
With this, it can be said that how March market for gold trended was a normal market consolidation or pullback, which normally happens after a strong trend to a particular direction. With that investors could take this opportunity to make some cool cash.
However, investors should note the risk involved in financial and stock market, so never invest more than you can afford to loose.
Enough said, I will be waiting to see how my position on gold will go. Below are the monthly, weekly and daily chart of Gold.
We saw a breakout of March highest price by April's price. With this breakout, which also showed up on the daily and weekly candles, it would be a nice idea to go long on Gold. I bought some shares on gold at $1288.50 to take profit around $1390.00.
With this, it can be said that how March market for gold trended was a normal market consolidation or pullback, which normally happens after a strong trend to a particular direction. With that investors could take this opportunity to make some cool cash.
However, investors should note the risk involved in financial and stock market, so never invest more than you can afford to loose.
Enough said, I will be waiting to see how my position on gold will go. Below are the monthly, weekly and daily chart of Gold.
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