Hi Traders,
After FOMC gold moved rapidly upside and behaved very irrational.
Whats next?
Psychologically: Gold is basically cover the positions of those who stuck in bullish bets last week.
thats a last time you see prices at this area,
Technically: Gold is follow the Trend line and is in consolidation phase, focus on 4 hourly closing and
price action for bearish bets.
Fundamentally: After FOMC and Reopening of economy, we cant see immediatly effect but
gradually Gold will moves downside.
Levels are: $1728, $1717, $1700
Every system has a Limitation!
Good Luck.
After FOMC gold moved rapidly upside and behaved very irrational.
Whats next?
Psychologically: Gold is basically cover the positions of those who stuck in bullish bets last week.
thats a last time you see prices at this area,
Technically: Gold is follow the Trend line and is in consolidation phase, focus on 4 hourly closing and
price action for bearish bets.
Fundamentally: After FOMC and Reopening of economy, we cant see immediatly effect but
gradually Gold will moves downside.
Levels are: $1728, $1717, $1700
Every system has a Limitation!
Good Luck.