Gold- Small correction underway
Updated
In my yesterday's intraday update I said that "sellers should be careful" with their trades under 1790 because Gold is approaching a very important confluence zone support at 1780-1782, and, indeed, after reaching 1782 intraday low, XauUsd has reversed and now is trading upwards in what I believe to be just a small correction.
This correction can be a good opportunity for swing traders to load up short trades and rallies above 1800 should be considered good entry points.
Gold remains grossly bearish under 1830 and only a daily close above would change my opinion.
This correction can be a good opportunity for swing traders to load up short trades and rallies above 1800 should be considered good entry points.
Gold remains grossly bearish under 1830 and only a daily close above would change my opinion.
Note
Gold is very weak and couldn t hold gains.A very small correction as expected
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