Long Gold around FED interest rate discussion

2 mai 2017

There will be an good opportunity to long gold at the price level around 1240 before FED interest rate announcement. After the announcement I predict that the price will jump up and start the new bullish trend.

4 mai 2017

Commentaire

I do believe that the uptrend line will support the price so I recreate the channel line to cover all spike. The first trade is better to fire "buy" when price break through the 1h trend line and add another shot when price break the 1h channel line. Otherwise, if this bullish channel (DEC 16 to MAY 17) cannot hold, gold may go down to 1090 level as there is another descending channel with the longer period