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Hi Colibri,
I have GOLD as in a downtrend, there is strong weekly support at 1250 I was expecting price to get there to see if longs will discover it then ?
Just my opinion but that’s what makes the markets.
1285 daily resistance is where I wait and see if a a short action would occur.
Regards
Dan
Hi Dan, That is another way to look at it. I am more concerned with the demand zone at 1275. In a long position and already and closely monitoring price action around the level that you have just mentioned. If we have a rejection, I will close my long position.
Happy Friday,
Colibri