11 Jul 2014
Gold: Looking to join trend on pullback - 2ndSkies
FXStreet (Bali) - Chris Capre, Founder at 2ndSkies Forex, maintains a bullish bias in Gold, looking to join the trend on pullbacks.
Key Quotes
"Yesterday in our daily market commentary, we talked about the pin bar and the series of HLs (higher lows) which hinted to us a breakout to the upside was imminent."
"Today the precious metal busted through the multi-week resistance of 1330, hitting an intra-day high of 1345 before correcting lower."
"For now, we are maintaining our bullish bias and looking to trade with the trend by watching for pullbacks towards to the 1330 - 1324 zone to get long. Upside targets will be 1350, and 1386 with the latter being the yearly highs set back in March."
Key Quotes
"Yesterday in our daily market commentary, we talked about the pin bar and the series of HLs (higher lows) which hinted to us a breakout to the upside was imminent."
"Today the precious metal busted through the multi-week resistance of 1330, hitting an intra-day high of 1345 before correcting lower."
"For now, we are maintaining our bullish bias and looking to trade with the trend by watching for pullbacks towards to the 1330 - 1324 zone to get long. Upside targets will be 1350, and 1386 with the latter being the yearly highs set back in March."