What a day it has been. As it has been the case, Gold has a way of finding buyers every time the FED hike rates. Check out what happened in DEC 2015 and 2016. The same trend is happening again. Notice the stochastic buy signal following an under-valuation on December 8. Buy pressure is strong and you can already see those bullish soldiers and this has led to that strong close above the 4 month main resistance trend line. Trading this commodity is easy and since the trend is same as Q3, then this is how we going to trade:
Stop Loss: $1277
Take Profit: $1310
What do you guys think? Let me know.
Have a good trading day