Gold Gold Daily Video, May 08, 2024

[Sive Morten]

Good morning,

Gold shows very tight action, that looks like a flag consolidation, suggesting that some upside swing still could be formed. This makes us to wait and not take short position right now, despite that daily/intraday context is bearish.

 

[Brett Reynolds]

I took small sell yesterday at $2320 after Daily failed to close above this area. Again this morning the 1 hourly 'retested' $2320. Stop above $2325 with Targets back down at $2280 then $2240..!?