Gold: Corrective Rebound Expected Before Further Decline
https://www.tradingview.com/x/pv4vqqqR/
Yesterday, gold experienced extreme volatility, surging before a sharp sell-off. Today, the market should see less fluctuation as much of the news has been priced in. However, another key report is expected during New York trading hours, and I believe short positions will be more favorable following its release.
Before the data comes out, a long position could be effective, given the steep decline yesterday. There is likely to be a corrective bounce as buyers step in to capitalize on the sharp drop, so I see going long ahead of the news as a good move.
Yesterday, gold experienced extreme volatility, surging before a sharp sell-off. Today, the market should see less fluctuation as much of the news has been priced in. However, another key report is expected during New York trading hours, and I believe short positions will be more favorable following its release.
Before the data comes out, a long position could be effective, given the steep decline yesterday. There is likely to be a corrective bounce as buyers step in to capitalize on the sharp drop, so I see going long ahead of the news as a good move.
Trade active
buy@2556-2548
tp1 2564
tp2 2568
tp3 2572
tp4 2578
Trade active
done
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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.
Related publications
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.