This article was posted on Friday, 13:55, UTC.
Gold: Long-Term Buy (Update) Gold, 4-Hour Chart Analysis Gold got hit hard yesterday afternoon, just before the hearing of ex-FBI Director Comey (some would say in a slightly suspicious way) after a strong period that carried the commodity just below the $1300 level. Gold got close to our initial long-term target, and it remains on long-term buy signal despite the current correction. Short-term traders might exit their positions and take profits now (our entry point was $1229), as gold penetrated the prior swing low and it’s possibly entering a consolidation period. The stop-loss for our long-term trade remains at $1244….
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Trader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive strategies, with a passion towards anything that is connected to the market.