Buckle up if you trading gold!
What a roller coaster on gold! Swiss referendum polls reaction brake the gold down but strong technical support hold that fall, after wich traders decided to ignore the news and push the gold up to the start. But, then came the FOMC minutes, after wich traders decided to brake the gold down again. One more tme, the strong support manage to hold and bulls get back the gold up for the second time! Whell, that was the hell of the ride, isn’t it!? What next? 1292 is minor support again and that level could be important, bulls must hold the price there, because, if bears attack 1178/80 again, there is a big chance to brake that very important and strong support. It seams that Swiss referendum is very important and traders are changing their mind from the time to time, as the news are coming up. Traders are to nervous here and it’s very hard to trade gold now technicaly, between important levels of support/resistance. Be very careful if you do!