Dear traders,
Gold is very bearish. We can see that rallies are sold into and that was pretty much expected.
The POC zone is 1729-32. As the momentum is strong I don’t think we will see a retracement to the zone but rather smaller rallies will be sold. That being said, watch for 1705 – 1715 for the next wave of selling. Below 1700 we should see a continuation towards 1684 but also below 1684 towards 1675.
The Analysis has been done with the Black Widow system.
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