- Pre FOMC price sold off into the 1830 support as indicated yesterday
- FOMC took prices down all the way to our support level at 1810
- Keep in mind interest rates remain the same, so there has to be a rebound rally
- 1810 is not a strong support, but if it holds, I expect price to bounce to 1825/1830 levels and thereafter 1850/1860/1870 levels
- Today we have news, I expect a spike into 1807/1805 levels, and from there a continuation up
- We are coming to the end of the week, Have your positions at BE, End of the week always means a pullback, Trade safe and always take profits from the markets!!
- FOMC took prices down all the way to our support level at 1810
- Keep in mind interest rates remain the same, so there has to be a rebound rally
- 1810 is not a strong support, but if it holds, I expect price to bounce to 1825/1830 levels and thereafter 1850/1860/1870 levels
- Today we have news, I expect a spike into 1807/1805 levels, and from there a continuation up
- We are coming to the end of the week, Have your positions at BE, End of the week always means a pullback, Trade safe and always take profits from the markets!!
Comment:
We had a spike to the bottom area, however price decided to break even lower, Hope you had your trades at BE, I closed mine without any losses. As gold has broken the psychological level of 1800, the last support I have marked is at 1790, I will be reassessing my views, stay tuned for my next update... Cheers!