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HomeBusinessGOLD COULD BOUNCE FROM 1776.76

GOLD COULD BOUNCE FROM 1776.76

In Asian session traded at 1785 with low volume as participant waiting for FED, Interest rate decision on Thursday 12:30AM, before that Britain unemployment rate on Tuesday is also an important event.   

For weekly prospects 1776.76 could be long opportunity for bounce towards 1804.61 and 1810.44 with protective stop loss just below 1773.

Alternatively if  able to Day close below 1770,it will certainly open the door for 1743.45.Not expecting this scenario but on account Fed decision you have to be familiar with all alternatives and act accordingly.

Strategy: long @ 1776.76 for 1804/1810   stop 1773.

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