Main Scenario: As long as it stays over the 1492 – 1500 area, our main expectation is POSITIVE!
In addition, the 4-hour close above the 1520 level could further strengthen our expectations.
Target Expectation: 1511 – 1520 – 1529
Considerations Supporting The Scenario: The continued short-term upward trend reinforces our positive expectation for the gold price.
Alternative Scenario: In case of 4-hour closing under 1492-1500 zone, the alternative expectation is NEGATIVE!
Alternative Target Expectation: 1483 – 1477 – 1470
MOST IMPORTANT NEWS and ASSETS OF THE DAY
Tuesday, November 05
- UK Service and Compound Purchasing Managers Index (PMI),
- U.S. Trade Balance, Service Purchasing Managers Index (PMI), ISM Non-Manufacturing Purchasing Managers Index (PMI) and FOMC member Kaplan talk,
- Canadian Trade Balance,
When we take into account the current news streams today, GOLD can attract attention compared to other assets.