- November 4, 2021
- Posted by: Tradingshot Articles
- Category: Commodities
Gold broke above the Channel Down and the 4H MA50 (blue trend-line) in the aftermath of the Fed Press Conference yesterday. This is a short-term buy signal towards the 1834.50 Resistance. On the other hand, if the price breaks below the 1,757.50 Support level, it’s a strong sell signal towards the 1,720 August Support Zone. The Nonfarm Payrolls tomorrow should provide Gold’s trend for the next 2-3 weeks so be alert.