Hi Folks:
I am proposing a long idea on GOLD based only on technicals. Mind that tomorrow Friday we will have NFP data that may bring a big movement in gold either way depending on the data.
Good NFP data above expectations could send prices lower, and below expectations could send the prices up again.
We are currently trading inside a descending channel that seems to be approaching old supports, so we may have some chances to scratch some pennies here and there.
The descending channel is trading inside another ascending channel (green line) that could offer additional support for gold bulls.
NFP data seems that may come better than expected as it happened with ADP and jobless claims.
Cheers.
GOLD
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I am proposing a long idea on GOLD based only on technicals. Mind that tomorrow Friday we will have NFP data that may bring a big movement in gold either way depending on the data.
Good NFP data above expectations could send prices lower, and below expectations could send the prices up again.
We are currently trading inside a descending channel that seems to be approaching old supports, so we may have some chances to scratch some pennies here and there.
The descending channel is trading inside another ascending channel (green line) that could offer additional support for gold bulls.
NFP data seems that may come better than expected as it happened with ADP and jobless claims.
Cheers.
GOLD
-------------------------------------------------
Remember, if you liked this idea don't forget to click LIKE and FOLLOW. That will encourage me to continue charting for you.