Preferred direction: BUY
Comment: As a result of last week, gold showed local growth and closed above the level of 2343.869. This trend is likely to favor buyers, especially in the short term, as we expect the publication of US inflation data on Wednesday, which is likely to particularly affect short-term trends. You need to take this into account and be careful.
Such a metal closed above 2343.869, then this level can be counted as support and further growth to the historical maximum of 2431 can be expected from this area and above (scenario №1). Scenario №2 also involves entering from the indicated support, but through a false breakout. The target in both cases is the same.
Additional comments on this trade will be provided as situation changes. Follow us!
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Comment: As a result of last week, gold showed local growth and closed above the level of 2343.869. This trend is likely to favor buyers, especially in the short term, as we expect the publication of US inflation data on Wednesday, which is likely to particularly affect short-term trends. You need to take this into account and be careful.
Such a metal closed above 2343.869, then this level can be counted as support and further growth to the historical maximum of 2431 can be expected from this area and above (scenario №1). Scenario №2 also involves entering from the indicated support, but through a false breakout. The target in both cases is the same.
Additional comments on this trade will be provided as situation changes. Follow us!
Thank you for like and share your views!
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