See below how our GOLD trade idea sent out ahead of the London session on Thursday performed. This trade was profitable for our paid subscribers who took it. See our commentary and charts below.
GOLD Strengthens On Further Bullish Offensive
GOLD: With the commodity breaking and holding above the 1129.00 zone on Wednesday, further bullishness is likely. On the downside, support comes in at the 1130.00 level where a break will turn attention to the 1120.00 level. Further down, a cut through here will open the door for a move lower towards the 1110.00 level. Below here if seen could trigger further downside pressure targeting the 1100.00 level. Conversely, resistance resides at the 1150.00 level where a break will aim at the 1160.00 level. A turn above there will expose the 1170.00 level. Further out, resistance stands at the 1180.00 level. All in all, GOLD looks to build up on its recovery strength.
Strategy: Buy at 1140.00, Stop loss at 1125.00, Price target at 1155.00 & 1165.00
The trade strengthened strongly meeting our first price target at 1155.00 level. We sent our a note to subscribers to close the trade at 1155.00 level when we noticed that lower level charts conditions were not looking good.
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