Weekly Chart of Dollar Denominated Gold Future Charts and Hangseng Index Weekly Charts are shown. As of now both trades weaker and under the Ichimoku cloud resistance with gold long term resistance near 1100 levels and Hangseng Resistance near 22,00(approx). Have a deep look into the chart
Gold Futures Weekly Ichimoku Chart
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Hangseng Weekly Ichimoku Chart
Still both have a strong potential to turn towards a long term Down trend. Until it trades below the Ichimoku cloud resistance the probability of downside potential is very high
Dear Sir,
i read at no of places in technical reports that daily trend of a stock has turned up or down. weekly trend is in down trend since last x weeks. how it is decided that trend has changed from down to up or from up to down?
it is decided by looking at higher low and higher high pattern or by crossing a particular mov avg or by pivot calculator?
will u please explain?
Bhavesh Shah