Gold update 19.12.23
I am still bullish and expect gold to stay in the yellow area I have marked. My reaction area is yesterday's daily open.
Gold is currently forming a bearish manipulation on the higher time frames, which adds to the possibility of a deeper pullback. The open level from last week should be considered as a possible reaction area. This scenario is still far away, but it should to be considered.
As always, December is moving very ugly as the markets are not illiquid. This is not the month to make big profits, but rather to test your strategy and master your discipline.
Gold is currently forming a bearish manipulation on the higher time frames, which adds to the possibility of a deeper pullback. The open level from last week should be considered as a possible reaction area. This scenario is still far away, but it should to be considered.
As always, December is moving very ugly as the markets are not illiquid. This is not the month to make big profits, but rather to test your strategy and master your discipline.
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