Some life breathing back into the markets finally after this horrible summer trading break where we’ve seen minimal trading activity. Focusing on gold today, it’s clearly trending upwards generating those higher highs and higher lows which is the kind of trending momentum we are always looking to trade
This week Gold as rejected deeper moves down into lower prices, printing bullish rejection candles with strong closes higher than the candle open price. This market looks very alive now and we are only looking for buying opportunities with the establish bullish momentum.
The last session produced a strong bullish rejection candle as lower prices into the dynamic support were rejected. We can use this rejection to anticipate higher prices as this market recovers from its recent downslide.