Gold daily analysis
Daily Analysis 4TH January 2016
-Collapse of the Chinese stock market
-Very strong tension between saudi arabia and iran
-Decline in activity in the US
-Rebound aborted Crude Oil
All these factors explain today 4TH Jan candlestick with a long green body and a long descent wick. bears have dominated the end of the session.
Today no major publication expected except the news flow above to watch for :
if opportunity is given long position can be taken at 1050 1060 stop loss 1048
For thos who have already taken this position, let it roll, and watch out your 4h candlestick to see if it will be wise to take a short position to protect your profit for a while.
Cheers
-Collapse of the Chinese stock market
-Very strong tension between saudi arabia and iran
-Decline in activity in the US
-Rebound aborted Crude Oil
All these factors explain today 4TH Jan candlestick with a long green body and a long descent wick. bears have dominated the end of the session.
Today no major publication expected except the news flow above to watch for :
if opportunity is given long position can be taken at 1050 1060 stop loss 1048
For thos who have already taken this position, let it roll, and watch out your 4h candlestick to see if it will be wise to take a short position to protect your profit for a while.
Cheers
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