Gold in FOMC week
Gold now under sideways area as marked on chart and for this week price opened under weekly pivot (2667) ; we have seen two days of good decline in last week closing.
Personally I want to see more corrections towards 2610 and then 2530 area for potentials bottom for December , breakdown from 2530 on daily / weekly can open room for decline.
In case of bullish scenario after FOMC price need to re claim 2790 and then we can expect bullish continuation towards 3000.
As during year end markets can be a wild ride , and for this week we have high impact data releases and risk are very high , focus on risk management and try to trade on double sure entry ; I am also waiting for swing opportunity from last week and expecting that we can find this swing by this weekend.
Personally I want to see more corrections towards 2610 and then 2530 area for potentials bottom for December , breakdown from 2530 on daily / weekly can open room for decline.
In case of bullish scenario after FOMC price need to re claim 2790 and then we can expect bullish continuation towards 3000.
As during year end markets can be a wild ride , and for this week we have high impact data releases and risk are very high , focus on risk management and try to trade on double sure entry ; I am also waiting for swing opportunity from last week and expecting that we can find this swing by this weekend.
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Feragatname
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