In this video, the Trader Guy looks at the commodity, gold for the January 6th session.
Gold/USD — Gold is rallying and looking bullish at the moment. It is now moving towards the $1,550 level, which is seen as a major resistance barrier. This is right after the headlines on the killing of the Iranian general by the US. So, buying dips is the way to play gold at the moment. Recently, the market broke above this descending price channel. Also, the area above the top of the ascending triangle pattern looks supportive, which is also the 38.2% Fib retracement level. So, all things look positive to believe that gold will rise further at the moment.