The low of yesterday at 1526 has held for now and gives scope for a potential "double bottom" to form on the daily chart. Gold has recovered well off the low, however it still remains in a steep down trend and the price needs to move above 1560 to break out of this channel.
The FOMC minutes signalled no change to the Fed's QE policy and caused barely a ripple in the market last night. Previous FOMC minutes have been big market moving events.
Today's video looks at the potential for a bottom at 1526 and what we are looking for before we go long.
The FOMC minutes signalled no change to the Fed's QE policy and caused barely a ripple in the market last night. Previous FOMC minutes have been big market moving events.
Today's video looks at the potential for a bottom at 1526 and what we are looking for before we go long.