GOLD - Still bullish, but time for a pause.
Last nights FOMC release treated the yellow metal kindly.
But what next?
As long as price remains above the $1350 level, its bullish to me.
However, a simple buy here doesn't cut it.
I'd like to see a retest.
A specific retest. I'd like to see price drift down to $1350 or thereabouts over the next few weeks and bounce off that level. That sets me up for a long. Alternatively, if price builds some sort of consolidation-like structure where it is - think a channel for wedge, my interest in a long at these levels would be reinvigorated.
If price plummets below $1350 in an aggressive fall, my interest in the long side disappears just as quickly.
But what next?
As long as price remains above the $1350 level, its bullish to me.
However, a simple buy here doesn't cut it.
I'd like to see a retest.
A specific retest. I'd like to see price drift down to $1350 or thereabouts over the next few weeks and bounce off that level. That sets me up for a long. Alternatively, if price builds some sort of consolidation-like structure where it is - think a channel for wedge, my interest in a long at these levels would be reinvigorated.
If price plummets below $1350 in an aggressive fall, my interest in the long side disappears just as quickly.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.