Gold futures trading signals for December 28th

On Monday (December 28th) long positions in gold should be opened above the hourly 55-period Exponential Moving Average ($1,073.07) with targets set in proximity to December 22nd high of $1,078.60 and stops placed in the area around the low from December 23rd ($1,070.00). Short positions, on the other hand, could be opened in case there is no break above the high from December 21st ($1,081.50). Short entries should be made in proximity to the upper boundary of the range, which can be observed on the 4-hour time frame ($1,080.50-$1,081.50). Stops could be placed just above that upper boundary, while profit targets could be set in the $1,073.50-$1,074.50 area.