UPDATE ON GOLD TRADE
Gold moved up in China on Peopleâ€™s Bank of Chinaâ€™s move. Interestingly, in the U. S. trading, gold has continued to inch up. The trading data is very muddy.
What To Do Now?
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On the risk side, $1350 may act as a magnet. There are also likely to be many stops above $1350. Professional traders make a habit of hunting stops. Stop hunting can easily make the gold run to $1360 to $1370. At the time of this writing gold is trading at $1337.10.
Do not add to this trade