In this Daily Trade Watch report, we look for high probability trade setups that we can trade throughout the day. Today, we discuss some profit taking potential in the Gold market.
Looking at this opportunity from a fundamental perspective, there seems to be real hope that the US President Trump and Chinese President Xi will find a resolution to the current trade war tariffs and fears. If this can be achieved then it could have an upside value of $1.2 Tr to the global economy. Overall, it is imperative that some resolution can be found. This is likely to soften the price of Gold as fears subside.
Additionally, from a technical perspective, we have seen resistance kick in around $1424 with some follow through downside pressure. As a result, we like to look for an opportunity to sell the Gold market over the short term below $1400.
Profit Taking Potential in the Gold Market – Full Video Analysis
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