Gold - Fading the bullish move after sharp rally
Gold - Intraday - We look to Sell at 1739 (stop at 1749)
Broken out of the triangle formation to the upside. Expect trading to remain mixed and volatile. 3 consecutive positive sessions have been posted. Price action continued to range between key support & resistance (1661 - 1740) although we expect a break of this range soon. This provides an excellent risk/reward opportunity to fade the current bullish move.
Our profit targets will be 1714 and 1700
Resistance: 1740 / 1748 / 1765
Support: 1725 / 1714 / 1700
Broken out of the triangle formation to the upside. Expect trading to remain mixed and volatile. 3 consecutive positive sessions have been posted. Price action continued to range between key support & resistance (1661 - 1740) although we expect a break of this range soon. This provides an excellent risk/reward opportunity to fade the current bullish move.
Our profit targets will be 1714 and 1700
Resistance: 1740 / 1748 / 1765
Support: 1725 / 1714 / 1700
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