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Lawrence’s Comment
FBO against Y+1 gave us Y-0 and Y-1 targets early in the week. Directional selling until Y-1 was breached. Found support there and bounced. Closed the week below Y-0 and midpoint.
Outlook
Outside week with Y-0, midpoint and close near each other points to complete stalemate. This is partly caused by gold’s price swings. It is also affected by China’s rate decision late in the week.
Until we get a range breakout out of B-1/B+1, it will be wide range 2-way play.
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