GOLD, the buyers are determined again!
For sure it looks like that after we see strong defend line at 1200, which they have build during the day. Sellers were persistent today as well, at first attacking the strong support zone at 1195 and during the day 1200 for several times, but the buyers manage to defend that level and they have return the precious metal in their favor again. On the smaller TF’s we could see a roller coaster ride after wich the buyers are trying to push the gold true the resistance level and trend line at 1209/11. If they break this, the momentum will be on their side, but can they succeed before FOMC and what to expect latter? It could be a sharp moves on gold. Can we see for the precious metal to return the glow in full or the sellers will took over again? What’s you’re view traders?