Gold has been range bound for a while now and to me it looks like its gravitating towards the grey box to rebalance price. I am expecting this area to be strong resistance and if you're interested in shorting Gold 1045-50 area is a good area to keep in mind. Be aware that we have CPI coming up tomorrow and that price could do the complete opposite.
Happy to hear your opinions!
Happy to hear your opinions!
Comment:
I don't like how Asia created a new high and didn't stay in a tight range how it usually does. In my opinion, we will go lower until NY session and I am expecting a dumb when CPI data comes out before we make new highs.