{"id":22701,"date":"2011-02-21T04:20:24","date_gmt":"2011-02-21T08:20:24","guid":{"rendered":"http:\/\/www.forexyard.com\/blog\/en\/?p=13296"},"modified":"2011-02-21T04:20:24","modified_gmt":"2011-02-21T08:20:24","slug":"gold-likely-to-enter-downward-correction-2","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/02\/21\/gold-likely-to-enter-downward-correction-2\/","title":{"rendered":"Gold Likely to Enter Downward Correction"},"content":{"rendered":"<p><img decoding=\"async\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/profile-pics\/12.jpg\" width=\"120\"  alt=\"printprofile\" \/><\/p>\n<p><a href=\"http:\/\/www.forexyard.com\/en\/trading\/gold\">Gold <\/a>prices rose significantly in the last week and peaked at $1396.76 an ounce. Gold has made a significant upward correction, which can be directly correlated with the bullish trend of the EUR\/USD cross. However, the daily chart is suggesting that a recent upward trend is losing steam and a bearish correction is impending. This recent activity has raised the stakes for traders. From here on, the forex and commodity markets will see very high volatility indeed.<\/p>\n<p><span id=\"more-13296\"><\/span>\u2022\tBelow is the daily chart for gold by <a href=\"http:\/\/www.forexyard.com\/en\/open-live-account\">ForexYard<\/a>.<\/p>\n<p>\u2022\tThe technical indicators used are the Slow Stochastic, RSI and Williams Percent Range.<\/p>\n<p>\u2022\tPoint 1: The <a href=\"http:\/\/www.forexyard.com\/en\/stochastic\">Slow Stochastic <\/a>indicates an impending bearish cross, signaling that the next move may be in a downward direction.<\/p>\n<p>\u2022\tPoint 2: The Williams Percent Range has peaked at the 0 marker and has turned bearish; this means that there may actually be a strong level of downward pressure.<\/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>Gold Daily Chart<br \/>\n<img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2011\/02\/gold-21-2-2011.JPG\" alt=\"gold 21-2-2011\" width=\"538\" height=\"679\" class=\"alignnone size-full wp-image-13297\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p> Gold prices rose significantly in the last week and peaked at $1396.76 an ounce. Gold has made a significant upward correction, which can be directly correlated with the bullish trend of the EUR\/USD cross. However, the daily chart is suggesting that a&#8230;<\/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-22701","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/22701","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=22701"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/22701\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=22701"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=22701"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=22701"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}