Tuesday February 7, 2017.
Hello and welcome to today’s free comment on Gold, it’s Tuesday February 7, 2017.
Well, this is it.
Gold finished yesterday smack bang on the Key Level, the 100 day moving average.
The next big move will, in all likelihood, be determined from current levels.
IF the price moves up from here with impulsiveness, and holds the gains for the close, a strong buy signal will be triggered.
In the meantime, this is the danger zone.
IF the price does not surpass the Key Level, there will be the rising likelihood that the next big move will be down.
I am inclined to expect a bullish outcome, but as always, focus instead on the Key Level, in this case, 1232.
Until next time, for Key Levels, I’m Paul Nojin.
Risk Warning – Futures, options, forex, CFD and ETF trading can offer large potential rewards, but can also involve large potential risk. You must be aware of the risks and be willing to accept them in order to trade in these markets. Do not trade with money you cannot afford to lose. This report is general in nature and is not a solicitation to buy or sell. No representation is being made about future results. Proceed at your own risk, and exercise caution at all times. Whenever you have an open position you must also have an active stop loss order to cut losses fast, to protect yourself if the trade fails. It is imperative to minimize risk through the use of stop loss orders.