Gold continued to rally for most of Friday, coming up against resistance around 1600 as we anticipated.
We closed our long position at 1599 for another $22 profit as gold struggled to get above this level .
This morning, gold has seen some mild profit taking along with equities and other commodities, which is unsurpising after such a big rally. We are always sceptical of these "knee jerk", news fuelled rallies and will wait on the sidelines before making our next move.
Today's video looks at what the possible scenarios and positions might be.
We closed our long position at 1599 for another $22 profit as gold struggled to get above this level .
This morning, gold has seen some mild profit taking along with equities and other commodities, which is unsurpising after such a big rally. We are always sceptical of these "knee jerk", news fuelled rallies and will wait on the sidelines before making our next move.
Today's video looks at what the possible scenarios and positions might be.