There was low volume since it since like people are not that excited to move the price around the night before the fed hike D-Day. Here are my set ups for tomorrow. Got some extra $DUST and $JDST today on the dips that occurred today. I will expect lower volume tomorrow prior to the release/Yellen Speach. Stay close to the button when it hits 2PM EST.
My call is...
During the Asian Market, if gold is able to break the blue barriers at 1167.40 it till continue in the red down channel. If it is able to use it as a support it can return and retest 1170 mark. if bear continues to go past the first blue, see anther blue support at 1163.40 which it had difficulty in the past. Keep you eyes on the USDJPY and USDEUR to support your...
Expect to see a bigger fall if bears can bring the gold price to cross the 1172 threshold marked in red line.
If somehow the bulls are able to bring it back up to 1176, it can trend up to 1180 (next resistance level).
THe odds are on your side if you are following the bear train.
Safe trading y'all~
The gold bulls will try to bring the price back up to 1170. Buying up every dip in the yellow box. However, Bears also have a plan of their own. They will be striving for their next goal which is the support of 1165/1160.
The fight/focus area is the yellow box.
Bull will try their best to retake the new resistance of 1170.
Bears are gonna try to ride that momentum near the new support of ~1160, while also battling the dowwnard channel that has been alive for the past few days.
With the help of USD slowing down a smidge, let's see if JNUG will continue to follow my red downtrend channel or break through and catch up to it's stronger uptrend blue channel.
Arrow is my plan A. red channel is my plan B.