{"id":12245,"date":"2010-08-20T10:35:22","date_gmt":"2010-08-20T14:35:22","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=12245"},"modified":"2010-08-20T10:35:22","modified_gmt":"2010-08-20T14:35:22","slug":"impeding-bearishness-for-gold","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/08\/20\/impeding-bearishness-for-gold\/","title":{"rendered":"Impeding Bearishness for Gold"},"content":{"rendered":"<p><strong>By Anton Eljwizat<\/strong> &#8211; <a href=\"http:\/\/www.forexyard.com\/en\/trading\/gold\">Gold<\/a> prices  rose significantly in the last three weeks and peaked at $1237 an ounce.  However, the daily chart is suggesting that a recent upwards trend is  losing steam and a bearish correction is impending. Forex traders  involved with commodities like this can take advantage of this knowledge  by going short on <a href=\"http:\/\/www.forexyard.com\/en\/trading\/gold\">gold<\/a> at a great entry price!<\/p>\n<p>\u2022\tBelow is the daily chart for <a href=\"http:\/\/www.forexyard.com\/en\/trading\/gold\">gold<\/a> by ForexYard.<\/p>\n<p>\u2022\tThe technical indicators used are the <a href=\"http:\/\/www.forexyard.com\/en\/trading\/gold\">Slow Stochastic<\/a>, <a href=\"http:\/\/www.forexyard.com\/en\/relative-strength-index-rsi\">RSI<\/a> and Williams Percent Range.<\/p>\n<p>\u2022\tPoint 1: There is a \u201cdoji\u201d candlestick formed in the chart, indicating that a reversal should take place.<\/p>\n<p>\u2022\tPoint 2: The<a href=\"http:\/\/www.forexyard.com\/en\/trading\/gold\"> Slow Stochastic <\/a>indicates a bearish cross, signaling that the next move may be in a downward direction.<\/p>\n<p>\u2022\tPoint 3: The <a href=\"http:\/\/www.forexyard.com\/en\/relative-strength-index-rsi\">RSI<\/a> signals that the price of this pair currently floats in the over-bought territory, suggesting downward pressure.<\/p>\n<p>\u2022\tPoint 4: Williams Percent Range also supports the downward direction.<\/p>\n<p>Gold Daily Chart<\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/08\/gold-20-8-2010.JPG\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2010\/08\/gold-20-8-2010.JPG\" alt=\"\" width=\"447\" height=\"618\" \/><\/a><\/p>\n<p><em><strong>Forex <\/strong><strong>Market Analysis provided by <a href=\"http:\/\/www.forexyard.com\/?zone_id=1398\" target=\"_blank\">ForexYard.<\/a><\/strong><\/em><\/p>\n<p>\u00a9 2006 by FxYard Ltd<\/p>\n<p>Disclaimer: Trading Foreign Exchange carries a high level of risk and                                                 may not be suitable for    all            investors.       There    is  a               possibility           that             you   could       sustain a  loss    of  all     of       your                 investment and             therefore  you             should   not       invest        money  that    you              cannot    afford to            lose. You          should    be       aware  of        all       the     risks          associated     with       Foreign          Exchange         trading.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Anton Eljwizat &#8211; Gold prices rose significantly in the last three weeks and peaked at $1237 an ounce. However, the daily chart is suggesting that a recent upwards trend is losing steam and a bearish correction is impending. Forex traders involved with commodities like this can take advantage of this knowledge by going short &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2010\/08\/20\/impeding-bearishness-for-gold\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Impeding Bearishness for Gold&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-12245","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/12245","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=12245"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/12245\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=12245"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=12245"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=12245"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}