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Gold Call Signal 27 Oct 2015

Signal details
Entry Price: 
1165
Close Price: 
1166
Expiry Time: 
21:00 GMT
Result: 
ITM
How we trade
5/5 of 2 ratings

Gold has been threading water in recent days, with the low 60's becoming a strong level of support for the yellow metal. Looking at the rates, we take the view that the implosion of prices which preceded the current consolidation path could be merely the beginning of a sustained march higher.

Gold prices have bottomed out in the $1161 area today and we are looking for a small dip to $1165. We will be underpinning our expectations for a higher close with the talk that the Federal Reserve's monetary policy statement tomorrow evening could be more dovish than the market expects.

Buying at $1165 in the coming hours is our confident bet on the market tonight.

Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. He has no business nor personal relationships with any mentioned government entities or stocks. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion.