Today is uptrend, but romorrow needs confirmation
Here is a very conservative view where possible movement of gold for this month..
Chart and marks says it all, now set some positions following the market responds toward the resistance and support lines.
After 1262 barrier has clearly been breached, it is a confirmation of breakout from hawkish trend, so next move is to 1276 as Resistance and Target Point
Recommendation: Set Long from 1266 -1270 to TP 1276. STOP LOSS 1260
Chart and marks says it all, now set some positions following the market responds toward the resistance and support lines.
After 1262 barrier has clearly been breached, it is a confirmation of breakout from hawkish trend, so next move is to 1276 as Resistance and Target Point
Recommendation: Set Long from 1266 -1270 to TP 1276. STOP LOSS 1260
Trade closed: target reached:
Profit reached and almost hit stop loss in matter of $1.