Preferred direction: BUY
Comment: Before the Fed meeting on gold, we activated scenario №1, which we published at the beginning of the week. Here, the long-trade was executed from the level of 2150. This support is a limit area for long-player, but no one has canceled its break down, and the likelihood of this saves. Just for this, we have scenario №2, which assumes making the next buy in the area of level 2120.
We do not consider the growth target above the level of 2200. Most likely, the price will stop at this resistance and go back to a correction. It should also be noted that the long-term prospects for metals look quite rosy.
Additional comments on this trade will be provided as situation changes. Follow us!
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Comment: Before the Fed meeting on gold, we activated scenario №1, which we published at the beginning of the week. Here, the long-trade was executed from the level of 2150. This support is a limit area for long-player, but no one has canceled its break down, and the likelihood of this saves. Just for this, we have scenario №2, which assumes making the next buy in the area of level 2120.
We do not consider the growth target above the level of 2200. Most likely, the price will stop at this resistance and go back to a correction. It should also be noted that the long-term prospects for metals look quite rosy.
Additional comments on this trade will be provided as situation changes. Follow us!
Thank you for like and share your views!
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