Gold Chartbook – Golden Moments

By Florian Grummes of Midas Touch Consulting

Precious Metals and Bitcoin Analyst • Aug 12, 2018 at 3:56 PM EDT

Gold is sitting in a sideways range in the monthly charts and is at support. After more than four months of declining prices this provides a chance for a bounce with a low risk entry.

Gold monthly chart, August 12th 2018. In a sideways range at support.

Gold weekly chart, August 12th 2018. Engagement with proper risk/reward-ratio.

Gold daily chart, August 12th 2018. Entry with tight stop.

Gold hourly chart, August 12th 2018. A move seems imminent.

Gold CoT-Data, commercial short position at lows last seen around the lows at 1,000 USD nearly three years ago

Disclosure:

None.

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GLD

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