Fxprotrader

Gold: Buy Setup at Key Support

Long
TVC:GOLD   CFDs on Gold (US$ / OZ)
In my last Gold post I highlighted a head and shoulders pattern which wasn't activated with price dropping even further . It's now testing and being rejected at a key support level - the sliding parallel of a median line set plus the 1.27 fib projection of previous downtrend. Going long from current level is a good idea.

** US Dollar shows signs of weakness which add value to our thought buying Gold.
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