Friday was a pretty quiet day after the fireworks on Thursday as gold attempted to stabilise after the big sell off. After hitting a low of 1558, which could potentially be a "double bottom", gold recovered to 1570 and has remained there overnight and into today's trading session.
Whilst still very vulnerable to more downside, and with a huge amount of overhead resistance to overcome and rebuilding to do by the bulls, this stabilisation above 1550 is encouraging.
Today's video looks at our strategy for the week and a number of potential trades that may evolve.
Whilst still very vulnerable to more downside, and with a huge amount of overhead resistance to overcome and rebuilding to do by the bulls, this stabilisation above 1550 is encouraging.
Today's video looks at our strategy for the week and a number of potential trades that may evolve.