Gold bullish pullback
Gold pulled back to previous base (to the left) which now acted as support.
Pullback was less than 50% which shows some strength.
Rally was quite clear from support zone (red lines in chart).
As we now put in a higher low we also need a bit less energy to push through resistance zone at former local high and high to the left, ie 1957-2060.
We need dollar to show some weakness or go sideways for trade to work.
Pullback was less than 50% which shows some strength.
Rally was quite clear from support zone (red lines in chart).
As we now put in a higher low we also need a bit less energy to push through resistance zone at former local high and high to the left, ie 1957-2060.
We need dollar to show some weakness or go sideways for trade to work.
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