Trading Idea

Trading Idea

GOLD DAILY

 

 

 

 

 

 

 After breaking the $1000 mark Gold rallied to top just above $1020, corrected and rose to test that level once again to finally fall below $1000. In the past few sessions the yellow metal found support in the $985-$990 area presenting the opportunity to open a short-term Long position to take advantage of a new swing to the upside. Stop Loss should be set under $985 and going Short should be considered if that level is breached expecting to take profit at the next reliable support around $965.

 

*Please acknowledge this is solely the writer’s opinion and does not pose an investment recommendation in any sort of way. Before placing trades please consider its suitability for your circumstances.

 

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