| Having found possible support around $4,000, gold might move back up. Close to oversold on the daily chart and with seemingly little demand for selling below $4,000, gold might regain some ground. The likely trigger for this technically would be the development of a coil within the value area between the 20 and 50 moving averages. The main narratives which could support gains include the lower dovishness of the Fed after late October's meeting and the ongoing shutdown of the US government, increasing uncertainty. The long-awaited NFP this week is very likely to be delayed again but traders might focus on PMI and sentiment from the USA. Trading is risky. Trade with care and keep watching our informative videos to enhance your trading skills and strategies. #gold #goldtrading #commodities #tradegold #marketoutlook #cfdmarkets |
Founded in 2008, ForexLive has been the go to source for both professional and retail traders from around the globe. Our core belief is that all traders want relevant and succinct trading information, and we deliver it 24 hours a day.
Tags: Featured,newsletter
1 pings