Gold is still in overall uptrend.
Currently we can see that it has finally broke out of the downtrend channel and start to make it way up.
We can target its last high and probably beyond for next week.
Currently we can see that it has finally broke out of the downtrend channel and start to make it way up.
We can target its last high and probably beyond for next week.
Comment:
I believe due to the situation in China, a risk on situation favours the greenback yesterday. Hence the drop in GOLD. Let's see if it can break the current resistance level to head back to the upside.
Trade closed: target reached