Gold – inflection points for Apr. 7, 2017

Yesterday’s trades

GC M17. Apr. 6, 2017. 30-minute bars.

Sell: $1258.50-$1259.50
Keyline: $1248.50
Buy: $1235.20-$1237.00

Gold hit Nat’s sell level after the Wednesday close, but it was probably too early for overnight traders to catch the entry.

The price subsequently moved down in a fairly narrow range but never reached Nat’s keyline.

For traders who were lucky enough to catch the entry the move was worth about $600 per contract if held to the day session close.

The modest move in Wednesday’s day session was overshadowed by a tremendous spike up in the after market.

Gold jumped almost $20 an ounce on the news of the US attack on Syria. It fell back slightly in subsequent trading but the price was holding about $10 per ounce above the early after-market price.

Today’s workbook

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