Gold has fallen sharply today as global markets recover slightly. Now price is currently in a pullback, in which price could be vulnerable for another break to test the final support level. Nevertheless, gold could recover sharply this week if global markets return to red. After all, we cannot forget that the market sell-off last week signal that sentiment is bearish.
Trade Step-ups:
Bullish Reversal: Price swings to the topside of the bearish channel. Profit levels to look for are 1230.00 & 1240.00.
Bearish Bearish Breakout: Price breaks final support level of the bullish channel. Look for consolidation below 1200.00.
Trade Step-ups:
Bullish Reversal: Price swings to the topside of the bearish channel. Profit levels to look for are 1230.00 & 1240.00.
Bearish Bearish Breakout: Price breaks final support level of the bullish channel. Look for consolidation below 1200.00.
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