Gold did not fail us , just rally from the right position or support. Its clear that channel broken will send gold up to 1250 -1260 zone. In the long term ,we still think gold will need to drop later Aug - Oct. More and more central bank is joining the rate-rising club and showing strong desire to follow up.That would b a bad news for long traders on gold.
Less is more!
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lets me tell you one thing for sure, do not try to short gold.
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gold is still heading to 1260 .
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Do you know which channel to choose to follow ?
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now the green line have been hit once. Price could highly possible to go higher than that.
hi.. i partially agree with this idea, we see a spike we see a divergence bullish engulfing, all because of poor CPI data, still need to be careful before FED minutes, i notice gold tend to go down every time prior that... FED minutes is due in 26 July.
GL with ur trade.
JAREL-TCK
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The next two week price is predicted by technical analysis, but if another two factor (sentiment and fundamental) lead to opposite direction? What would happen? Correct me if i am wrong.