The so long awaited 1300s have been entered with a bang. Gold has shot up steeply like that North Korean rocket.
Where do we go from here? Well, 2016 November high (US election day), the level of 1337 looks attractive.
I would like to see a retracement in order to fill that little gap that it made. A drop to 1312 would be ideal. Certainly, I would prefer a test of 1300, which will kinda be like a psychological level. But I will consider that only if we close below 1312.
I think September could be crazy on volatility, so Gold might have some good long swings. I suggest being very careful and try to have Stop Loss limits in place.
As always, keep an eye on the price action!
Where do we go from here? Well, 2016 November high (US election day), the level of 1337 looks attractive.
I would like to see a retracement in order to fill that little gap that it made. A drop to 1312 would be ideal. Certainly, I would prefer a test of 1300, which will kinda be like a psychological level. But I will consider that only if we close below 1312.
I think September could be crazy on volatility, so Gold might have some good long swings. I suggest being very careful and try to have Stop Loss limits in place.
As always, keep an eye on the price action!