GOLD, the bulls have allready prepared for the FED’s stay on hold or!?
Gold bulls pushed the precious metal price strongly up yesterday on weak ISM and reached daily down trend line and resistance level at 1353/58. Are they preparing ‘the field’ for September 21. and for the FED’s interest rate decision with stay on hold? They could be and this is the possible range in the next 11 days and the possible move on decision. As I see it, technicaly they could form the range in between aprox 1338 and 1356 until September 21. and then for move up toward 1375 again, if FED stays on hold of course. If FED hike on September 21., gold could fall back toward 1300 once again and continue to fall furder after. This is my view on possible move, how do you see it?