Potential Gold Trades for Today
Gold looks to be making a descending wedge at support.
Opportunity 1: It Gold is able to get a strong close/move below the yellow support, we could see sells coming in to take price to around the 1621 mark initially.
Opportunity 2:
If Gold can begin a strong move and close above this small trend line, price could move up to support around 1635.
Long term outlooks:
Bullish: a close above the longer term trend line.
Bearish: a close below the 1621 support.
Opportunity 1: It Gold is able to get a strong close/move below the yellow support, we could see sells coming in to take price to around the 1621 mark initially.
Opportunity 2:
If Gold can begin a strong move and close above this small trend line, price could move up to support around 1635.
Long term outlooks:
Bullish: a close above the longer term trend line.
Bearish: a close below the 1621 support.
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