FOMC and the Federal Rates
We've got to wait to see what the FOMC will say or do with the federal rates. I have no Bias at the moment for the long run, but what I can see happen in the coming 30 minutes is a pullback to 1880 because of the fibonnaci levels and the oil inventory results being more then -2.1m barrels. The oil price has been going up because of this shortage. If the shortage stays the same or increases this will be bad for the dollar making the DXY Dump short term. So a good chance to scalp a long position to 1880.
Overall I think gold is going to go up this week, lets see.
First gold to 1880
Overall I think gold is going to go up this week, lets see.
First gold to 1880
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