In this Daily Trade Watch report, we look for high probability trade setups that we can trade throughout the day. Today, we discuss an interesting opportunity in Gold emerging.
From a fundamental perspective, there is a number of reasons to support the price of Gold. Many factors have ultimately pushed the price from 1303 up to 1450 in a relatively short period of time. However, from a technical perspective, we are in an uptrend overall.
Recently, this market has bounced off the upper trend line around the 1450 level but has then pulled back to our strong level of support around the 1424 level. It has straddled this level over the last 3 trading days without capitulating. Therefore, this gives us reasonable confidence to expect prices higher above 1430.50.
Interesting Opportunity in Gold Emerging – Full Video Analysis
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