Gold is Bullish - We look to Buy at 1704
▪️ Price action has posted a bearish Hanging Man and is negative for short-term sentiment.
▪️ Expect trading to remain mixed and volatile.
▪️ With our medium term bias looking to buy dips and the short term bias indicating selling interest we are faced with mixed signals.
▪️ Expect trading to remain mixed and volatile.
▪️ The reaction lower is negative, however, we view this as an opportunity to set longs in line with the overall bullish move higher.
▪️ Preferred trade is to buy on dips.
Update 1: The move to 1704 triggered our long trade
Stop: 1694
Target1: 1725
Target2: 1740
▪️ Price action has posted a bearish Hanging Man and is negative for short-term sentiment.
▪️ Expect trading to remain mixed and volatile.
▪️ With our medium term bias looking to buy dips and the short term bias indicating selling interest we are faced with mixed signals.
▪️ Expect trading to remain mixed and volatile.
▪️ The reaction lower is negative, however, we view this as an opportunity to set longs in line with the overall bullish move higher.
▪️ Preferred trade is to buy on dips.
Update 1: The move to 1704 triggered our long trade
Stop: 1694
Target1: 1725
Target2: 1740
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