Gold to touch low 1400's
Updated
Fundamentals - Potential Phase one trade deal signing, taking some steam off of gold until we start again with Phase two.
Technicals - Trend channel with an accumulation pattern for shorts at the current level. The current accumulation level was brought during the FOMC meeting where it was inferred that it would take a well established change in inflation and economic data to reverse rates.
Technicals - Trend channel with an accumulation pattern for shorts at the current level. The current accumulation level was brought during the FOMC meeting where it was inferred that it would take a well established change in inflation and economic data to reverse rates.
Note
.25 line and dotted purple support brokeEyes on the 0.5 line for a pause
Note
Most likely not break the mid line down again until there is solid positive news on trade deal. Confirmation of place for signing or something as significant. Uncertainty at the moment will creep gold up back higher in the meantime.Note
We are up top again in the channel, with a cool off in market with brexit and phase one deal. going short againNote
There is a risin wedge forming now, will possible extend above the channel before its journey down
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