Gold- Will FED be the trigger for new leg up?
Yesterday was a very quiet day for Gold, with the price fluctuating in a tight range.
With FED expected to make no move on rates, the more important is the press conference after, which could trigger a new rise for Gold.
Technically, things have been unchanged since yesterday, with a high probability of a bottom in place.
As explained yesterday, a clear break above the 1935 zone would expose the 1980 and 1953 recent high as interim resistance.
I remain bullish as long as the 1910-1915 zone is intact.
With FED expected to make no move on rates, the more important is the press conference after, which could trigger a new rise for Gold.
Technically, things have been unchanged since yesterday, with a high probability of a bottom in place.
As explained yesterday, a clear break above the 1935 zone would expose the 1980 and 1953 recent high as interim resistance.
I remain bullish as long as the 1910-1915 zone is intact.
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