Gold is likely to go long, supported by technicals as well as fundamental data. Powell's speech and today's ADP non farm employment data support the global uptrend of gold. Technically, it needs to breakout 3347 and close above it. That will trigger the upward momentum targeting 3390-3400 zone.
I do not rule out a decline to the bottom of the range (which confluences with 0.236 fib) before further upward momentum. What do you guys think?
I do not rule out a decline to the bottom of the range (which confluences with 0.236 fib) before further upward momentum. What do you guys think?
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.