GOLD

The US Fed's outlook on interest rates made gold sailing on a green pasture. The US dollar became weak after the Fed interest rate decision, and geopolitical tensions also supported gold to spike to $1,321 levels. For the last couple of days, we have been recommending new shorts only below $1,237.70, until buy on dips. Now we can see the result. On June 18, again we recommended to go long above $1,289 for $1,309 levels, buyers minted the money. In yesterday's session gold crossed the second broken trend line, now it will act as support. We can see huge selling pressure below the 200-day Ema at $1,309.

In Asia's session, the metal is trading at $1,318.50. As of now, it made a small double top. For intraday session we recommend to go selling for $1,315 and $1,310 levels. If the metal breaks $1,309, then we can see huge selling pressure. The trading pattern is framed between $1,322-$1,310 levels. On the upside, if the metal breaches the minor double top, it can extend the bull leg up to $1,325 and $1,327.8 and $1,330.0. Selling on the rise is the valid strategy until it crosses the $1,331 levels. On the down side, if it breaks the $1,309 level, the selling pressure will take the metal to $1,300 and $1,296.40 levels.

Sell with sl $1,322.

Panic is below $1,309.

Buy above $1,323.