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CFDs on Gold (US$ / OZ)
Long

Gold Idea

By kashifali6
Updated
All info mentioned on chart
Note
Gold Will make another move downside till 1639 - 1644 range . Thats where the institutions will jack in to make a new higher high. Dont forget until nasdaq really falls below 7500 mark Gold wont be making a sharp upward rall. Rather little push.
Note
Gold spot Intraday the downside prevails. PREVIOUS
Pivot: 1671.00

Most Retail traders are going short positions below 1671.00 with targets at 1642.00 & 1632.00 in extension.

Alternative scenario: above 1671.00 look for further upside with 1687.00 & 1703.00 as targets.

The RSI is bearish and calls for further decline.
Note
Yesterday price bounced as exactly our Key Level mentioned of 1640ish .
Today is anther special day. Expect a push up and then another sell off.
Trend Analysis
kashifali6

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