GOLD 14/06: Tonight's commentary on PPI news

GOLD From a technical perspective, the 1942$-1940$ area or the 100-day SMA can continue to act as strong immediate support. A convincing breakout and acceptance below will be seen as a fresh trigger for bearish traders.

On the downside, any meaningful upside move on the day seems to face resistance near the 1,963$-1,965$ area ahead of the 1,973$-1,975$ supply zone. Next is the 1983$-1985$ resistance and the 2000$ psychological mark. Sustained strength beyond the latter will change the trend in favor of the bullish traders and lift Gold price to the next suitable resistance near the 2,010$-2,012$ area.

Because there is very strong support in the zone 1939$-1941$. So we will have a very nice buying price range around 1941$-1944$.

Stop loss around 1930$ (I don't expect it on my stop loss)

Trade fechado: stop atingido:

PPI news is out but only 10pip less to my buy entry. It's really sad