On an hourly scale, the gold prices have formed a Double Bottom chart pattern that signals a bullish reversal.
The precious metal has climbed to $1,640.00 and has not shown any signs of exhaustion as of the moment.
Mixed responses are coming from different asset classes, which could be signs of anxiety ahead of the release of the US Nonfarm Payrolls (NFP) data.
We will monitor it closely and wait for strong confirmations before taking a long entry with the Gold Bulls, definitely after the NFP data is out.
The precious metal has climbed to $1,640.00 and has not shown any signs of exhaustion as of the moment.
Mixed responses are coming from different asset classes, which could be signs of anxiety ahead of the release of the US Nonfarm Payrolls (NFP) data.
We will monitor it closely and wait for strong confirmations before taking a long entry with the Gold Bulls, definitely after the NFP data is out.
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Guess it's too late, price skyrocketed after NFP news lol haha