GOLD: trend is down, but correction is needed

At the moment, the price is sitting on a crucial zone of support and we can identify some sort of bullish price action. Although our bias for GOLD is bearish, we believe that some correctional moves should happen before the price charges up for further bearish moves. Thus, we are monitoring the price action and looking forward to opening BUY positions and aiming for the zone illustrated on the graph.

Happy trading, everyone!