Double bottom on gold?
Gold looks to have formed a double bottom potentially. The bullish butterfly harmonic, significant volume spike, and momentum indicators climbing create a potentially appealing setup.
There is of course one major caveat--a blow out employment roll print tomorrow could spike nominal yields (dragging real yields higher with them) which would put pressure on gold price again.
If going long here, keep a tight stop.
There is of course one major caveat--a blow out employment roll print tomorrow could spike nominal yields (dragging real yields higher with them) which would put pressure on gold price again.
If going long here, keep a tight stop.
Trade closed manually
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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.
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.