Bullish break about to confirm on today's daily close. Ideal entry at around $4.4 although a market buy is also looking well. Stop placed at today's daily low.

From a macro perspective, October's monthly chart, closed quite well showing signs of trend continuation to the upside.

Bullish price action should be good as long as it remains above $2,700 although the weekly chart closed last week with a doji candle at the highs showing signs of weakness and lots of sellers at that point. Not only that but Gold has a Time at Mode bullish trend that was set to expire today so might as well take most profits here.

Any retrace towards mid to low $2,600's is a buy.

Long entry at mid $32's perfectly hit. Tight stops placed at the most recent lows. Anticipating a bullish swing from here. This is a risky trade as there is no clear bullish confirmation yet but it is a macro level that must hold for a long scalp/swing trade worth the RR.

Weekly chart on the other hand had a horrible weekly close. Price closed the week with a bearish engulfing bar signaling possible downtrend continuation. The trade above is simply a dead cat bounce, nothing usually nukes one way or the other...

Trade running well so far, stop has been re-adjusted at today's daily low.

Previous report HERE:

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Commodities - Update #13

Yeah yeah gold bugs everywhere now. With the current economic uncertainty and the money printing going brrr why not be a gold bug? Gold (XAU) Extremely bullish close last week with a bullish engulfing bar closing above previous highs and making a new all time high. From a macro standpoint,

Zelf TradeLuis Ricardo Guizado

](https://www.zelf.trade/commodities-update-12-2/)