TRADESETUP

June 12, 2019

Aussie Gold on the move higher ready to squeeze up through resistance

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Commodity Analysis Aussie Gold XAUAUD

Time Frame : One Hour Chart

Aussie Gold XAUAUD

Aussie Gold recently spiked higher which is giving local gold stocks a lift today. Price recently fell off the highs around 1920 to squeeze out some late buyers. Price then fell short of support to the uptrend at 1892 and has spiked back up to the 1920 zone. We see the potential for a solid short squeeze tonight through 1920 as the longer term trend is well and truly entrenched to the upside.

Commodity : Aussie Gold

Current Price : 1917

Status : On watch for a potential short squeeze through to new highs

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