Safe Haven and Trendline support = Gold to climb from here
With the recent volatility in the markets, Gold has seen some nice swing action in the start of the year, unlike its counter part silver.
I've drawn some trendlines in to observe where gold might be heading next: The upper trendline has multiple touches and has just made a recent bounce on Friday 15/01/16.
I anticipate Gold will climb early next week towards the 1100-1110 resistance areas. I'm current in this trade @ 1092.09 with my stops placed around the recent lows. Note: I entered on the initial rise however will place another trade this Monday if I see price to begin to rise.
Note for future releases on information on trading, education and signals I will be releasing my new website in the early part of this year, sign up to find out when: www.ejfxtrading.com
I've drawn some trendlines in to observe where gold might be heading next: The upper trendline has multiple touches and has just made a recent bounce on Friday 15/01/16.
I anticipate Gold will climb early next week towards the 1100-1110 resistance areas. I'm current in this trade @ 1092.09 with my stops placed around the recent lows. Note: I entered on the initial rise however will place another trade this Monday if I see price to begin to rise.
Note for future releases on information on trading, education and signals I will be releasing my new website in the early part of this year, sign up to find out when: www.ejfxtrading.com