Gold has been smoking some of Bob Marleys magic plants because its just got F#cking high... it could have shared it with me haha.
Now gold broke key weekly resistance last night due to fundamentals due to FOMC ( i wont bore you with that now, google it if you want some reading that will send you to sleep ) Gold rocketed past levels and up to highs that haven't been seen since 2014.
People normally invest in gold when the US economy is in trouble so this sudden panic and rush to buy gold might be an indicator that something is not rite, i have been saying for a while now that a recession is on the horizon, yet people choose to ignore it and believe the s#it that comes out Trumps mouth ( commonly known for staring in the Simpsons as SPIDER PIG )
So back to the trade before i get banned off here for running my mouth haha.
We are only expecting bullish movement with gold due to economic uncertainty but we might get a retest of our support zone as this was such a strong level for many years then a bounce and bullish run up to the moon, on the other hand we might just continue the current bull run, although the daily and weekly candle is showing signs of slowing down slightly with a long upper shadow indicating that bulls are slowing down for now and bears might push price into our support zone before the bulls wake up and push price higher.
Loads of high impact news surrounding USD is out today so if you do trade then do it with protection... use that trading condom more regular known as a stoploss ;p
Have a good days trading and if you are struggling with anything then drop me a message.
Now gold broke key weekly resistance last night due to fundamentals due to FOMC ( i wont bore you with that now, google it if you want some reading that will send you to sleep ) Gold rocketed past levels and up to highs that haven't been seen since 2014.
People normally invest in gold when the US economy is in trouble so this sudden panic and rush to buy gold might be an indicator that something is not rite, i have been saying for a while now that a recession is on the horizon, yet people choose to ignore it and believe the s#it that comes out Trumps mouth ( commonly known for staring in the Simpsons as SPIDER PIG )
So back to the trade before i get banned off here for running my mouth haha.
We are only expecting bullish movement with gold due to economic uncertainty but we might get a retest of our support zone as this was such a strong level for many years then a bounce and bullish run up to the moon, on the other hand we might just continue the current bull run, although the daily and weekly candle is showing signs of slowing down slightly with a long upper shadow indicating that bulls are slowing down for now and bears might push price into our support zone before the bulls wake up and push price higher.
Loads of high impact news surrounding USD is out today so if you do trade then do it with protection... use that trading condom more regular known as a stoploss ;p
Have a good days trading and if you are struggling with anything then drop me a message.