GOLD 28/06: Forecast for the Fed tonight

GOLD Gold's drop on Wednesday was driven by narrow open interest, which lends to the idea that a recovery could be imminent in the very near term. In this regard, occasional bullish attempts are expected to meet initial resistance around the 1940$ per troy ounce area, an area that coincides with the 100-day SMA.

On the downside, a strong resistance is seen near the 1,930$ area, above which the confluence of the 21 and 100 DMA at $1944 will challenge bearish commitments. The next relevant upside target is seen at the psychological 1945$ level.

Gold is now in the 1910 zone. I expect gold to fall slightly, to 1905. Then we will have a beautiful gold buying GOLD zone at 1905-1908.

stop loss around 70pip per trade

Trade active

Trade active:

BUY 1905 => 1910. + 50pip✅✅✅