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1150 still looks to be a strong area of Buyers to get in on the sale of gold and buy cheap and take price back up.
Even with a sale of gold, the commodity is still an investment, seen as a safe asset.
For the time being, price has been stuck at around the 1200 price area, and could still contain sellers waiting to drive price further down.
The French shares have been moving higher so we believe this may be a breakout overpowering the sellers at around the 5505 area and continue to an upward trend and benefit our trade.
However it does appear that price is moving in to a triangle trend line so price may get squeezed by the pressure of the Bulls and the Bears before the CAC 40 Breakout is achieved.
In the past few weeks we've seen the selling of the gold metal becoming hectic as if it was in an alternative gold rush to sell.
A position of sellers still, at around the 1200.00 area, price looks like it had a moment of strength to take it back up to that level and the sellers will enter again for another sell off and take price down further to an area we ...
Based off previous levels of support and and what looks like a possible build up of orders around the 1.600 area for a potential for Buy trade and go Long.