Buying opportunity for gold.

In a rush right now, will update the anaylsis.

Note

Note

Despite a major move down on US equities today, Gold has failed to find significant volume and momentum to make a firm bounce off of support dating back from March lows.

Note

My first guess would be investors/traders are hesitant to open new positions on Gold until tomorrows Non-Farm Payrolls report, and Dollar strength following better than expected US jobless reports.

Note

On the intraday chart, Gold has formed an interesting wedge pattern, a break above or below could possibly see interesting movement, however I doubt a major move will occur until tomorrow.

RaphFX

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RaphFX