24 Jun 2014
Gold: Bullish while above 1280, 1300 - 2ndSkies
FXStreet (Bali) - Chris Capre, Founder at 2ndSkies, will maintain a bullish bias in Gold as long as above 1280 and 1300.
Key Quotes
"Since the big explosive gains from last week, the precious metal has been correcting near the highs, holding a range between 1306 and 1321. The fact the yellow metal has been holding in a corrective price action phase near the highs after the bullish move, suggests sellers since the 19th have not really entered the market, and that the bulls are still in control."
"We'll maintain a bullish bias while being above 1280 and 1300. Aggressive intra-day traders can play the consolidation range watching for price action signals off 1306, having 1320 as your first target, and 1328 as a longer target."
Key Quotes
"Since the big explosive gains from last week, the precious metal has been correcting near the highs, holding a range between 1306 and 1321. The fact the yellow metal has been holding in a corrective price action phase near the highs after the bullish move, suggests sellers since the 19th have not really entered the market, and that the bulls are still in control."
"We'll maintain a bullish bias while being above 1280 and 1300. Aggressive intra-day traders can play the consolidation range watching for price action signals off 1306, having 1320 as your first target, and 1328 as a longer target."