GOLD seeing sell pressure due to jobs reports
we are seeing weakness in gold after the job reports today that shows the US initial jobless claims was 385k instead of an expected 390k meaning that we will see possible strength in the USD. we was looking for a trade to the upside on gold last week as price broke its monthly zone to the upside but now what we would like to see is buy pressure come in breaking above the monthly once more, minor exhaustion and a continued move to the upside with price action and entry confirmation, we need to be a bit patient on gold.
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