Technical Outlook and Chart Setups:
The trade setup remains quite interesting at the moment for volatility traders; since the yellow metal is providing opportunities on both sides. Let's evaluate the current setup:
1. Gold had bounces of 1,672.00 in November and registered fresh swing highs near 1,755.00 before retracing lower.
2. Till 1,672.00 remains intact, there are possibilities of bullish breakout.
3. At the moment it is moving in a narrow trading range, forming a cone and it is on the lower side of the range.
Trading Recommendations;
1. Book profits on short positions taken yesterday.
2. Buy now. Stop is at 1,670. Target is open.
Good Luck !
The material has been provided by Instaforex Company - instaforex.com
For detail explanation and best discovery on market trends you may visit via Gold Tests The Lower Boundary Of Range. Book Profits On Aggressive Short Positions . Thanks for your support on Gold Tests The Lower Boundary Of Range. Book Profits On Aggressive Short Positions
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