Gold’s Pullback May Signal New Buying Opportunity
Updated
Gold began the week on a weak note, with its price dropping by around 200 pips from peak to trough.
However, as I mentioned in my Friday analysis, a potential bottom may be forming, giving bulls hope for a recovery.
Currently, Gold is trading precisely within a former resistance zone that now acts as support.
As long as this level holds, there is a favorable outlook for a reversal.
For now, I remain optimistic about a rebound, with potential for the price to climb back above 2700.
However, as I mentioned in my Friday analysis, a potential bottom may be forming, giving bulls hope for a recovery.
Currently, Gold is trading precisely within a former resistance zone that now acts as support.
As long as this level holds, there is a favorable outlook for a reversal.
For now, I remain optimistic about a rebound, with potential for the price to climb back above 2700.
Trade closed manually
Closed manually on Break Even.
It looks heavy
I m looking to sell on N.Y Session
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