Gold Market Wire
News, analysis and commentary for gold traders and investors
Gold Market Opening
The Triangle Keeps Narrowing
May11, 2020 - (Gold Market Wire) - Gold continues within the parameters of the symmetrical trial that we established last week and we have to work with what the market gives us. Volatility sellers and professional market makers who butterfly their position have reaped big rewards and will continue to do so until a break out happens.
We don't like shedding gamma on a Monday, and right now vol is going nowhere, but for those who think a change is in the offing, a continuation of the triangle would lead to a decent opportunity to buy strangles.
On the flat price front, scalpers and job the market between $1690 and $1720 as the chart reveals.