Gold: October 14 review
Gold futures, December contract traded continue below $1500.00 range again today also after last Friday’s positive news for US-China trade decision.
Last week’s news, for the first face of US-China trade war decision ended very well but investors are cautious about their results.
At this type of situations, traders always keep an eye on Hedge funds like Gold and Silver. Precious metals and USD always traded opposite direction at this situation.
Dow 30 futures, December contract traded -130 points, down -0.50% at Early European hours after released some negative news for US-China trade deal. All European and Asian stocks traded negative territory today.
Expectation of profit booking in Gold and Silver due to we will see some positive news today for trade deal and Brexit.
For intraday and STBT strategy for Gold:
Entry point – $1500.00-$1502.50
And keep R1 $1514.00
And wait S1 $1485.00
And wait S2 $1480.00
And wait S3 $1470.00