Today the anticipated raise up of the gold triangle has occurred. As we have mentioned earlier this impulse is a great indicator of continuing ascendant movement.
Despite the fact that the impulse was good and strong the gold is still limited in its growth by resistance of 1636.
The Wednesday break should be perceived as a fake one by no means, since the price has not returned even to the boundaries of the triangle after the break that is why the upcoming days it is recommended to make only long deals with gold.
It is pretty hazardous to enter right now after the impulse, since a change towards abrupt growth is possible, which theoretically started with closing of American markets. It is hard to determine the depth of adjustments, but it may be up to 1595-1600. So if the price will be based on this level, one can start trading with yellow metal.
And those who entered the market with the break had better secure their current profits and enjoy the growth of floating profit in case of continuation of growth tomorrow.Social button for Joomla