Gold prices edged higher in In the Morning, extending their tepid performance as investors still remained cautious with the rising dollar following the U.S. Federal Reserve’s hawkish tilt. Traders also refrained from placing large bets ahead of a shortened trading week due to the Christmas holiday.
Spot Gold inched up 0.2% to $2,617.22 per ounce, while gold futures expiring in February ticked up 0.1% to $2,631.89 an ounce.
CURRENTLY GOLD IS MOVING ON DOWN TREND.
Expecting correction up to 2623.88
Today’s important levels for trading are 2627.86, 2618.00, 2602.74 and 2592.88
Trading Strategy for today: Sell On Rise
Trade setup:
Pullback Sell around 2623.50 Higher Sell around 2634.50
Safe swing sell below 2603.50
Safe swing buy above 2647.50
Important Event :
🟠 Richmond Manufacturing Index