This is our view on Gold for today Thursday 28 January 2015, from SBSTOCKS.COM trading room.
I'm so excited today as this is Thursday, usually we get very impulsive moves in the direction off previous trends on Thursday.
GOLD IN A NUTSHELL: The GOLD XAUUSD is trending UP for more than a week now, if you look at the chart, price action shows are very shallow corrections to the down side, however when news hits GOLD gains very strong impulsive moves UP.
GOLD is making a pattern of higher highs and higher lows which dictate a stronger uptrend.
Yesterday we had a strong move up, but today early morning the Asian session have pushed the GOLD down in corrective pattern to the 76.4% Fibonacci area from the previous impulsive move UP, that might be considered as an interesting entry Signal.
Conclusion: Long Gold for today for the next 5 to 10 hours
View our previous trees on Gold
COMMENTS I'M VERY WELCOME