Gold has been trading in small body candlestick formations since the past few trading sessions near $1890-$1900 level and has been experiencing higher level rejection, indicating impending correction. Short term charts are supportive of the above view and signify a correction for gold in the near term. It would be prudent to say that gold could decline towards $1860 and $1845 if it sustains below $1910.
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Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
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