Top Gold Trading Strategies for Friday

Gold continues to range, like most assets since yesterday. It seems to really be having trouble with a cluster of levels between 1737 and 1742, including Fibonacci and technical levels. Where it goes from here will depend on risk sentiment in the news, so please refer to our Ghostsquawk AI tool for updates as the day progresses. On the upside, it could hit 1753, the relative high. On the low side, watch 1705, a Fibonacci level that is really close to our psychological level of 1700. The Kovach Chande indicator (which comes with the Ghostsquawk AI package) is encroaching the high end of its oscillatory range, so this suggests we may see a retracement, even if it is just a squeeze down to 1728, where we are likely to see support.

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LONG