GOLD, daily down trend line hold on the way up!
Gold buyers are trying to push the price up, but strong daily down trend line is holding on the way up at 1247 today. You can see on my chart that the gold is moving true the daily triangle in the last two weeks, after the precious metal has reached Monthly MA100 on February 11. It’s bullish in the last two days from 1215 and it’s well supported on the way back at 1237 today, at least for now. Could we see one more attempt from the bulls or we could see lower levels today? In about 10 minutes we have US ISM Manufacturing PMI data and that could be the trigger for furder move, or? Let’s see!?
15:00 h (GMT) – US ISM Prices Paid > Previous 33.5, Expectation 34.5. Update > 38.5!!!
15:00 h (GMT) – US ISM Manufacturing PMI > Previous 48.2, Expectation 48.5. Update > 49.5!!!