GOLD - Selling rallies for now
Gold is Bearish - We look to Sell a break of 1706.50
▪️ There is scope for mild buying at the open but gains should be limited.
▪️ We have a 50% Fibonacci pullback level of 1708.04 from 1670.72 to 1745.35.
▪️ Bespoke resistance is located at 1706.50.
▪️ Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 1706.50, resulting in improved risk/reward.
Stop: 1715
Target1: 1671
Target2: 1665
▪️ There is scope for mild buying at the open but gains should be limited.
▪️ We have a 50% Fibonacci pullback level of 1708.04 from 1670.72 to 1745.35.
▪️ Bespoke resistance is located at 1706.50.
▪️ Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 1706.50, resulting in improved risk/reward.
Stop: 1715
Target1: 1671
Target2: 1665
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