Yesterday U.S. consumer confidence went to 16-year high. Today the market (ES Futures) failed to traded higher than yesterday’s high.
U.S. consumer confidence surged to a more than 16-year high in March amid growing labor market optimism while the goods trade deficit narrowed sharply in February, indicating the economy was regaining momentum after faltering at the start of the year.
As the GOLD short trigger yesterday, I was expecting gold to trade lower but it did not find enough bears under 1255. Take into account that algos will hunt stops above 1259
