olly_price
Long

Gold: buy the overshot pullback

FX:XAUUSD   Gold Spot / U.S. Dollar
Technicals

Gold broke strongly through the resistance level drawn, before closing slightly above it and then pulling back below it.

I have been long gold for a while and this 'overshot' pullback provides further buying opportunities.

Fundamentals

Following Brexit, we are likely to see UK, European and US stocks take further hits; further warnings from many UK companies; further warnings from the UK government. All these will likely drive gold higher.


Trade active: Long
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