peterchung16
Long

Gold - Trading Range

FX:XAUUSD   Gold Spot / U.S. Dollar
87 0 1
The Sell off is simply Trading Range.

1. The Smart money is accumulating/cost averaging during the current fall.

2. The interest rate hike will only pressure the gold             goes up.

3. 1206 -1216 is a good buy now.

4. The fundamental would not allow the break below 1206.

Watch the action of Gold             now. Every sell off to 1206 region will bought up my smart Bulls.


Comment: It is most likely there is a strong rebound next week. The simply reason is that the Interest Rate hike is firmed on the table.

http://www.cnbc.com/2016/05/27/yellen-rate-hike-probably-appropriate-in-the-coming-months.html

According to COT report, the commercial decreases their short position into long. The reversal may rebound next week or the week after.
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out