UPDATE ON GOLD TRADE
Gold moved up in China on People’s Bank of China’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