We studied the trend of gold after the PCE price index report release in the past Specially from 2017 to the present, we found that after the data was released , gold have 2 ways big probability to move i) gold had a higher probability of increase in that day until the market closed (same day) 63% ii) if gold not go up that day , it will continue the decline...
its good to buy on the deep 1208-1213 area , targets 1239-1243
1213-1216 is the best area for long gold gold opportunity ! enjoy !
dollars will be more upside as now forming a triple bottom and try to get back into channel
gold 4 times try to being upward but failed middle of Oct ,we may see gold more down side .. retest and touch the down line during Nov .. @1130 near strong support .. and break out upside
1160 first low create 5weeks before the hike rate on 27sept i think that gold will be drop to 1130-1100 area 5 weeks before Dec hike rate too after that we will see a big rise
Daily chart in Gold , waiting the inside bar breakout next week follow the trend to buy/ sell big chance for the sell side
History keep repeating , Short Gold before FOMC meeting I expect a big drop next 2-3 weeks to zone 1160-1100 Area
Keep Short gold before the FOMC meeting , im expect Gold may have a Strong drop in a few days to 1160 -1100 area