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GOLD Looks Like Toppling Over as MA's make a bearish cross over -

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    • GOLD Looks Like Toppling Over as MA’s make a bearish cross over
Feb, 22nd 17:08

ob-trade-idea

On the weekly chart, the gold price is entering the correction phase from the peak of 1262.92, reached two weeks ago, as demand for safe haven assets cools off. The price remains in a descending channel with the MA 14 and MA 21 already conversed which will drag the precious metal to the lowest of last week at about 1190.90 again. There’s still possibility for gold to rise above 1300 in the short term.

Trade Suggestions

Buy Digital Put Option at/below 1205.50 valid till 23/2/2016

Buy Digital Call Option on a breakout above 1230.00 valid till 24/2/2016

 

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