Hacked: Hacking Finance

Recommendations

Investment Recommendations May 17th

Posted on .

Investment Recommendations May 17th

Introduction

Gold: Long-Term Buy (Update)

Gold, 4-Hour Chart Analysis

Gold has been steadily rising since our recommendation and it surged higher today in the wake of the Comey-scandal. It is now well above the $1240 resistance, while also being back in the prior rising trend channel, trading just below the key $1260 resistance level.

Short-term traders are advised to cut their positions during today’s strength, and place the stop loss higher. Our initial stop-loss recommendation is also pulled higher now, slightly below the $1210 level. The MACD indicator remains bullish, although a pull-back towards $1240 is still in the cards, with a declining long-term trend-line still posing as resistance just above $1270.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



Feedback or Requests?

DON'T MISS OUT

Mate Cser

Mate Cser

Trader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive strategies, with a passion towards anything that is connected to the market.

There are no comments.

View Comments (0) ...
Navigation
Wednesday Market Recap Asset Current Value Daily Change S&P 500…