Gold – Short Term Trade Idea – 11/28/2016

Gold – Short Term Trade Idea – 11/28/2016

With world politics in flux and inability of financial markets to stick with any theme longer than few hours, it is difficult to hold something with conviction.  Current environment for Gold is not productive and that means lower price in coming sessions.  But as we know, things don’t move in straight line, we are open to trade it from both sides without any long-term big exposure.

Nearest upper resistance band is between 1205 and 1210.  Above that, 1220 is also a good shorting level.

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gold_30min_chart_nov_28_2016

gold_30min_chart_nov_28_2016