As I had discussed yesterday, GOLD had potential to move towards $ 1,930-1,950 window, and we even managed lower.
One can clearly observe the market of being in a "tag of war", the dragging upwards and downwards in a larger magnitude. This shows the unclear picture that people have of the whole situation.
technically, we should see GOLD hold a bit. We have moved from highs $ 2,070 to $ 1,910 area and this is a too steep decline, similarly when we moved upwards from $ 1,880 before. The strategy is therefore to BUY into weakness.
Strategy BUY current $ 1,910-1,930 window and place profit order @ 2,035 for now. We will add on weakness further, maybe @ 1,880-1,885 again. No stop-loss I will use, but am not advocating that you should not. If you do place the stop below $ 1,850 for now.
One can clearly observe the market of being in a "tag of war", the dragging upwards and downwards in a larger magnitude. This shows the unclear picture that people have of the whole situation.
technically, we should see GOLD hold a bit. We have moved from highs $ 2,070 to $ 1,910 area and this is a too steep decline, similarly when we moved upwards from $ 1,880 before. The strategy is therefore to BUY into weakness.
Strategy BUY current $ 1,910-1,930 window and place profit order @ 2,035 for now. We will add on weakness further, maybe @ 1,880-1,885 again. No stop-loss I will use, but am not advocating that you should not. If you do place the stop below $ 1,850 for now.