Gold scenarios for next few days
Gold 0.06% been trending upwards nicely in a channel, off an inverted H&S bottom and break of the downward channel, pushing through some key levels. Lots of data tomorrow too in EU and US. Could push this around and give us continuation or a breakdown. The channel is clear and some other decent levels to watch for opportunities, keep an open mind on direction from here. There's no crystal ball but resolution of battle for 1250-1260 zone should be significant. Can see $20 move in either direction once resolved, at least. Probably more if managed well.
Position lightly and from the edges, be patient, manage risk tightly, and let the winners run - that should get you on the right side of a decent move in the coming days, in my opinion.
Position lightly and from the edges, be patient, manage risk tightly, and let the winners run - that should get you on the right side of a decent move in the coming days, in my opinion.
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