Preferred direction: SELL Comment: For gold, we previously gave two setups for sell, and one of them is already in work (scenario №2). However, against the background of the upcoming potential volatility (NFP), as well as the short-term weakening of the US dollar, most likely, it is at the very moment of the release of data on the US labor market that we will see a new maximum for gold in the region of 2350. It is in this area that we are considering an additional level for entry into short (scenario №1). This scenario is the most likely in the near future.
Additional comments on this trade will be provided as situation changes. Follow us!
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