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otterslide

Possible breakout on Wednesday

Long
Gold Spot / U.S. Dollar (FX:XAUUSD)  
otterslide Updated   
FX:XAUUSD   Gold Spot / U.S. Dollar
Parallel Channel
3
0
parallelchannel
We could see a real breakout on Wed if the GDP disappoints in the morning.
The following 25bps cut, with about 90%+ chance, could go either way for gold. Stocks may rally on it, or it could be an indicator that a recession is coming and cause some gold buying.
Comment:
Not a big break, but so far following the line almost exactly..
Some important numbers tomorrow morning, could see that 1515 to 1520 mark again. Personal Income, Spending, Manufacturing..
Trade closed: target reached
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