Volumetric analysis on December 05
Until December 11, there should be a meeting of the England Parliament on the Brexit deal, we will see a lot more news in the media. One of latest rumour was the information of the International Monetary Fund, which said that a “black scenario” awaits us if there is no agreement. In the meantime, there are no agreement. As a result, we can see volumes and volatility changes. What to do? Well, firstly, do not try to sell when you hear negative news, and buy at the first word of positive news. Since the probability that this negative or positive especially for such events. Secondly, focus only on the actual agreement, which will be published on December 11 and ignore rumours that could be announced before. The Parliament of England is well aware that the lack of agreements will lead their country to a difficult economic situation, and they will not do it themselves. So, either the Brexit deal will be agreed, either alternative scenario will be proposed. In general, we pay attention only to the facts and hope that everything will be fine.
From the technical picture. Everything that happened yesterday has signs of false breakdown, but it’s too early to buy on that levels. We note the balance distribution on 1.2745-1.2780 price zone and we will consider the possibility of purchases only after the breakdown of this balance. Up to this point, the probability of false breakdown is great.
We can congratulate those who can sit up to the goal. The expected growth took a place and hit our targets. What to do next? First, let us draw attention to the fact that today in the United States mourning has been declared for the death of former US President Bush. In this regard, the stock exchange NYCE, NASDAQ and CME announced today abbreviated. Despite the fact that this applies only to the stock market, today it is not necessary to prepare for special volatility. And it is quite possible that today gold will be traded on the range with support at 1232-1228 and resistance at 1238-1242. At the same time, it is better to consider purchases from support, since the probability of breakdown of resistance seems to be greater today.