Long Gold..
Taking a long COMEX Gold (GC) position here as seasonal strength coupled with a nice bounce from oversold conditions along with long term EMAs still showing bull market is alive and well. Gold looks good for a 2-4 month swing trade here and will plan to sell once it gets back to overbought conditions again (90+ Stochastic). Stop is just under last week's swing low..
Trade closed: stop reached
Gold reversing down and breaking under $1900 support. Stopped at BE..
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.