Strifor || GOLD-Week Starting
Updated
Preferred direction: BUY
Comment: After a quiet week in the metals market, the coming week is likely to be very volatile. In addition to the technical accumulation in the triangle format, we have a lot of economic data and events that will happen this week.
The most likely scenario №1 will involve a breakout trade at the level of 2340. Scenario №2 assumes a preliminary fall to 2300, but you need to be careful here, since a close below 2300 will most likely generate a downward movement to 2200 and 2150. In the case of a positive outcome, a closure can be expected above the level of 2340, and then enter a long position with a target of 2400, then 2440 and higher.
Additional comments on this trade will be provided as situation changes. Follow us!
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Comment: After a quiet week in the metals market, the coming week is likely to be very volatile. In addition to the technical accumulation in the triangle format, we have a lot of economic data and events that will happen this week.
The most likely scenario №1 will involve a breakout trade at the level of 2340. Scenario №2 assumes a preliminary fall to 2300, but you need to be careful here, since a close below 2300 will most likely generate a downward movement to 2200 and 2150. In the case of a positive outcome, a closure can be expected above the level of 2340, and then enter a long position with a target of 2400, then 2440 and higher.
Additional comments on this trade will be provided as situation changes. Follow us!
Thank you for like and share your views!
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