Gold
The spot Gold market tried to extend its recent run higher last Friday but found resistance just under the key level through $1790.00, forming a bearish rejection pin bar trading setup in the process. This week, as long as we stay below $1790.00 on a closing basis, we expect to see some movement to the downside. There’s potential for a larger downside move here given the significance of the resistance level that was hit Friday and the pin bar signal that formed there. If price should push higher and break up past $1790.00 – $1800.00, it would open the door for an extension of this recent run higher.
Forex Trading Commentary by Nial Fuller
The spot Gold market tried to extend its recent run higher last Friday but found resistance just under the key level through $1790.00, forming a bearish rejection pin bar trading setup in the process. This week, as long as we stay below $1790.00 on a closing basis, we expect to see some movement to the downside. There’s potential for a larger downside move here given the significance of the resistance level that was hit Friday and the pin bar signal that formed there. If price should push higher and break up past $1790.00 – $1800.00, it would open the door for an extension of this recent run higher.
Forex Trading Commentary by Nial Fuller
Master Your Setup, Master Your self. (NQoos)