Possible Short Opportunity on GOLD!!!
This is what I see on GOLD. Weekly vertical crossovers on MACD is a strong sell indicator for GOLD, but it has that 1290 area support that held really well in the past. If it goes below that support level, we could have a really nice, low risk short play on GOLD. The target would be much below at around 1200 level and the stop loss will be above 1295, or 1300 area. Risk $10 to make $100. Nothing better than 1:10 risk reward ratio.
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