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!

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felix

A computer engineer by profession and loves to develop online systems/websites. A self-taught stock trader who loves to share his knowledge and enjoys learning, expanding knowledge and staying well-informed. Most often he uses candlesticks, Fibonacci Retracement levels, Ichimoku system on his technical analysis but loves to hear some rumors as well.

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