Quick Update on Gold – Metal is on a Move Now - Forex News by FX Leaders

Quick Update on Gold – Metal is on a Move Now

Posted Monday, January 28, 2019 by
Arslan Butt • 1 min read

Recalling our earlier update on gold, the yellow metal is on a bearish move now. There’s been no updates on the fundamentals side so far, however, the technical indicators are playing their roles.

The overbought GOLD has started coming out of the overbought zone, and there’s a high probability that it will go for 23.6% retracement at $1,297 and then 38.2% retracement at $1,294 today.

We are already in a selling trade, so just sit tight for the take profit.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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