Gold is approaching the long term, 5 year highs at $1555 and I am looking for a break or bounce scenario. I have a feeling we could see a nice sell off from that zone with profit taking occurring by the speculators trading gold up over the last few weeks.
Gold is currently once again getting a boost from weak USD, trade tensions and the Iran bombs.
I will want to see a nice 4hr rejection of the $1555 before I go short. Alternatively a break and close above this level should see price continue up to new highs around $1600 or more.
Gold is currently once again getting a boost from weak USD, trade tensions and the Iran bombs.
I will want to see a nice 4hr rejection of the $1555 before I go short. Alternatively a break and close above this level should see price continue up to new highs around $1600 or more.
