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US500 4 HOUR CHART –    Still consolidating
Still consolidating within 5900-6100 where 6000 will dictate the tone, currently finds support while above it. .
Needs to regain 6070-80_ to piu the 6118 high on the radar.
Anything else but a new high would either be a disappointment or more consolidation.
This is perfectly 7pm Nigerian time, and the gold (xau/usd) has just spoken. This is another buy. Looking at the hourly chart. the candles are well set for a buy. the just formed candle is heading long while the candle that formed an hour before then (5pm) closed at 2788. Now as I said, the direction of the last candle dictates where the trend is going.
The 7pm candle was a buy candle and suggests continuing buy bias. I think the gold will hit 2797 at least before retracing. It has begun going long as i speak so a few pips is good and I will be exiting at 2797. Do not be greedy. A little pip at a time is good. Don’t risk more than 2-5% of your capital at a time. I will see you soon. This is my analysis.
Thanks,
TOPNINE.This is 5pm Nigerian time and GOLD (XAU/USD) is having a swell time climbing high. Shat started as a slow climb early this mornig at price 2758.62 has slowly and consistently climbed to the all high 2796.59 currently and will still go higher.
the cascading and upward alignment of the last 6 candles on the 30′ chart shows the buying power is muuch and will continue in that direction for a while. price will get to at least 2802.51 before it retraces in my opinion. A culmiation of NEWS since yesterday plus today’s monetary policy statememt at 2;15PM WITH THE unemployment claims that was released at 2:30pm has directed the gold in the same direction.
I forsee stronger buys at least in the interim. I will take a buy from its current position and exit at 2802 for a few pips.
Thanks,
TOPNINE.
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