Gold - 240 - watch it closely
Trade Alert
Keep a close eye on the tentative upside line and the psychological 1300 level. If these two continue to hold the price from dropping lower, we may see a rebound back up. But in that scenario, we will stay cautiously-bullish up until 1310 level and if it gets broken, we will get slightly more comfortable with further upside, at least up until 1316 barrier.
If the price closes the day below 1300, this might ring alarm bells in the bull-bloc and let the bears to jump behind the steering wheel.
Please see the chart for details and levels.
Don't forget your stop-loss.
Keep a close eye on the tentative upside line and the psychological 1300 level. If these two continue to hold the price from dropping lower, we may see a rebound back up. But in that scenario, we will stay cautiously-bullish up until 1310 level and if it gets broken, we will get slightly more comfortable with further upside, at least up until 1316 barrier.
If the price closes the day below 1300, this might ring alarm bells in the bull-bloc and let the bears to jump behind the steering wheel.
Please see the chart for details and levels.
Don't forget your stop-loss.