Gold — More Volatility and More Potential for Profit

Gold — 1239 USD

Gold is on the second day of volatility, largely due to the change in the USD.  Looking at the daily market chart it appears to be moving in a bullish position, with support at as low as 1200 and a resistance at as high as 1245.   As investors recognize the gold standard is not only tied to the dollar but often inverse reflective of the dollar.  As the dollar is still being predicted by many as a bullish position, traders are advised to use caution in positioning their gold.

Here is the daily chart:

M1 chart shows another picture — a bearish position.   Investors can make profits in either position, and are welcomed to play their own formula with short or medium goals.   Remember that in Forex and metals you can margin your investment and pivot your profits quickly and collect the rewards.

On a short term outlook investors could position bearish.   On a medium term investors could position bullish.   Either side, a trader should use caution and monitor quick movements to minimize their risk.