Gold price has been largely fluctuating between 1224 and 1243, and both ends shows strong support and resistance. Meanwhile, the price has formed same pattern as previous period A and B, which means gold price is getting ready for another big jump. Recent risky events also indicates this expectation.
Strategies:
1. Take long position at around 1225-1226 to 1239, stop loss at 1220.
2. Take short position at around 1238-1240 and take profit at around 1225. Stop loss at 1244
Strategies:
1. Take long position at around 1225-1226 to 1239, stop loss at 1220.
2. Take short position at around 1238-1240 and take profit at around 1225. Stop loss at 1244