- False breakout usually gives fast result on the opposite side that's what happened here.
- Now 52.10 levels and 100 SMA are crucial. Price is already below 100 SMA. If 52.10 is not held then bigger correction is possible.
- Staying above 52.10 and moving above 100 SMA can avoid a bigger fall.
- GOLD Support levels
January 3, 2017
- 4 Hour chart shows price moving up from 200 Period SMA.
- Immediate resistance at 50 Period SMA and if bulls move above this line it could lead to 2273 levels. Weakness at 50 Period SMA may give an intraday sell.
- CRUDE Oil bullish price action