Here we go !
After Testing 1610, Gold have been move upward and break above 1700 and comeback 1695 last Friday !
If gold find a buyer it will be momentum gold to back above 1700. However, if opposite gold will be back on 16xx or below !
Target FED of interest rate will be 4%, now 3.25%... there is high possible gold will be go down short term before comeback stronger !
COT position of gold last week
LONG ~ 49% (+8K)
SHORT ~ 29% (-26K)
Good luck !
After Testing 1610, Gold have been move upward and break above 1700 and comeback 1695 last Friday !
If gold find a buyer it will be momentum gold to back above 1700. However, if opposite gold will be back on 16xx or below !
Target FED of interest rate will be 4%, now 3.25%... there is high possible gold will be go down short term before comeback stronger !
COT position of gold last week
LONG ~ 49% (+8K)
SHORT ~ 29% (-26K)
Good luck !