Gold FuturesLong
Will GC find support around 2330 before retesting highs?
GC has been finding strong support around the 2300 mark for months. My hypothesis is that the most recent touch at 2310 last week will be the last test of that level for a while before we test new highs again. There are large lots of resting liquidity between the current value of 2335 and 2330, so I'm going long at 2332 with a 3 point stop loss at 2329. I think 2330 will be a strong support level and bring us up closer to 2350 on the Monday trading session. Taking a 4:1 Risk/Reward here.
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