Fed Chair Powell said today that the fed is open to additional rate hikes dependant of the incoming data. I expect an epanding range going into the coming weeks. If gold comes down into the 1847 area I assume there could be a small bounce to retest the 1860 area which could potentially set up the next trade towards 1800, imo
Comment:
It would be safe to bring SL to break even in case price bounces back up
Trade closed: target reached:
but with recent cpi continuing to rise, can certaily drop lower to lower 18000 range , imo