Sell Gold on de-escalation of Trump vs Iran + no WW3!
Sell Gold following the deesclation in USA v Iran geopolitical tensions (for now) and for the fact that "ww3" has stopped trending.
There are also technical factors to help with the confluence of signals:
Gold has been sold into the 61% fib of the 2011-2016 move lower and big figure of 1600.
Gold was up roughly 17% last year, in one of its best years in recent times, if you were long, time to take some profits.
Trade:
If we close below 1557USD for the week, sell targeting the last notable resistance level of 1487, secondary targets: 1445 (Nov 11th low), 1380(38% fib of 2011-2016)
There are also technical factors to help with the confluence of signals:
Gold has been sold into the 61% fib of the 2011-2016 move lower and big figure of 1600.
Gold was up roughly 17% last year, in one of its best years in recent times, if you were long, time to take some profits.
Trade:
If we close below 1557USD for the week, sell targeting the last notable resistance level of 1487, secondary targets: 1445 (Nov 11th low), 1380(38% fib of 2011-2016)