Today price action is showing that the gold up-trend started in July is not ended. Daily bar bounced from the up-sloping lower parallel and 20EMA (double support). I see another wave up from 1410 to the next resistance 1484.0 -1488.0 (also median line of the price projection). Commercial traders are reducing the shorts and funds seem fuelling the move up increasing the longs. Geopolitical events to monitor.
Comments
Ryan_Tyler
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Still open for both directions. Waiting for a clear signal