Gold is on it's way to test the 1260 level that been defended very well in the past. At that same level we do have the monthly S1 pivot and the daily 200 EMA. That is also the bottom of the range that gold been trading in for a while. we may see a bounce from this level.
Kommentar:
Nice first reaction on the level i mentioned, but we still can't say we have "The reversal", looking for more bullish sentiment in the market.
Kommentar:
1260 support got broken, main idea invalid for now. reevaluating the trade.