As a quick update, the Gold price did continue the short term descend to reach 1312.5. Next move is uncertain but I would expect a low between 1300 and 1310, however a daily close below 1305 changes the uptrend for good and would expose 1300/1296 and then 1280. I believe the FED´s rate decision on Wednesday will provide the fuel required to move the market either way of this 1305 level.
Monday, September 18, 2017
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hmm its such a waste that i close my short early, i can't really figure out why it doesn't even retract before reaching 1312 because my plan was short again after a bit retracement, sharks might want to clear longs especially ones stuck on the gap so for now i'm gonna stay away for a bit and keep my profit until opportunity comes, some analyst says Eiffel tower pattern in play so it might be unwise to find the bottom
ReplyDeleteThat is for sure, big money will not cover shorts until they are satisfied that enough long positions have been taken out. I would expect a rally any time between today´s close and Wednesday open but still I´m just guessing.
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