GOLD POTENTIAL LONG @ 1430
Judging from the weekly/daily and 4H time frames, Gold is still very bullish due to US-China trade tensions.
Scenario 1: Should Mr Trump choose to continue with the tariffs, I am expecting prices to do a pullback to the major support at 1430 before continuing the bull run all the way to $1550
Scenario 2: If a trade deal can be concluded, it will automatically mean that the 10% tariffs will be called off, stocks will rally and gold will lose it's value. Should that happen, i'm expecting it to go all the way to the major support at $1380, if it breaks, it may even go down more.
GOOD LUCK TRADERS.
Scenario 1: Should Mr Trump choose to continue with the tariffs, I am expecting prices to do a pullback to the major support at 1430 before continuing the bull run all the way to $1550
Scenario 2: If a trade deal can be concluded, it will automatically mean that the 10% tariffs will be called off, stocks will rally and gold will lose it's value. Should that happen, i'm expecting it to go all the way to the major support at $1380, if it breaks, it may even go down more.
GOOD LUCK TRADERS.
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