Kumo break on PGOLD

Another drop for PGOLD today. It broke the Kumo from above which is considered a bearish signal but the 127.2% Fibonacci Retracement level supports the price not to go down further. Could it be the bottom for PGOLD or there will be more dips to come? If price will be able to come back inside the Kumo there is a chance it will bounce. You may test buy but in case it will continue to fall, next support is quite deep so be careful.

RSI or Relative Strength Index is currently at 28.

Caveat!

Leave a Reply