After drifting aimlessly for most of the day yesterday, gold vaulted through 1700 and went on to climb right back up to the 1730 resistance area this morning.
The election win for Barack Obama is viewed as positive for gold as the loose economic policies of the past few years look set to continue and, crucially, Ben Bernanke will remain in charge at the Fed.
A move above 1730 will confirm the low for Wave 2 and will set the stage for a strong rally into the year end.
Today's video looks at the price action from yesterday and our strategy for our next trade.
The election win for Barack Obama is viewed as positive for gold as the loose economic policies of the past few years look set to continue and, crucially, Ben Bernanke will remain in charge at the Fed.
A move above 1730 will confirm the low for Wave 2 and will set the stage for a strong rally into the year end.
Today's video looks at the price action from yesterday and our strategy for our next trade.