GOLD pulled into the low band of the former four-months consolidation range for testing last week. On Friday, it rebounded, and retraced Thursday’s pullback. The futures closed at the middle of weekly trading range.
Last week’s trading
It was a choppy week. The price never reached Nat’s upper resistance. Instead it declined from the outset Monday and triggered a short trade Tuesday. That was stopped out when the price reversed Wednesday.
Thursday the short was back on and continued to Nat’s 1st buy level, before reverting back up to the Key line again.
Three trades total, one stopped out, for a potential profit of about $30 per contract, minus the value of the stop on the first trade. A decent week’s work. Click the chart to enlarge.
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