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Market came down nicely from PZ to BZ as per my trade plan given yesterday, rallied to PHOD and made another flush down, forming a bearish candle, but noticably, market is still supported by the BZ. The 139.6 level given yesterday is acting as good support. Overall the daily candle looks bearish but from the looks, my view is market could give another move for...
1965 is critical today. In most short-term cases, gold will return to its original position after 5 moves. If 1965 breaks through, D1 resistance position 1945 will be the next target.
New pattern has to be evaluated if gold reaches 1980.
* 1st resistance: 1965. 2nd resistance: 1979.
* Bull & bear boundary: 1980.
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