Spot gold has lost 8% since peaking on March 17 and trend suggest rallies should be selling opportunities
Chris Weston
Pepperstone
Spot gold has lost 8% since peaking on March 17 and trend suggest rallies should be selling opportunities. There are technical signs that gold is oversold and buyers seem to be steeping in at the January 26 high of $1279, although the big support kicks in at $1262.70 (the 61.8% retracement of the December to March rally). Today's US ADP private payrolls report could be a catalyst for price if it misses the 195,000 jobs expected to be created.
Never miss an update
Enjoy this wire? Hit the ‘like’ button to let us know.
Stay up to date with my current content by
following me below and you’ll be notified every time I post a wire
Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market price action and advise on actionable trade ideas and investments in multiple asset classes.
1 topic
Chris Weston
Head of Research
Pepperstone
Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market...
Expertise
Chris Weston
Head of Research
Pepperstone
Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market...
Expertise
Comments
Comments
Sign In or Join Free to comment