As we can see GOLD's Higher high is on 1,815 on the H1,H4 time frame in the Zone (consolidation area) .At the moment gold is on 1797 and there are 50% chances of rebound with corrective structure towards buy direction while maintaining the zone between 1795-1815. In case if its break the support level of 1795 than there will be more chances that gold will touch the support level of 1770 and adopt the zone between 1745-1780. I can't confirm that but as the DX is still not recovering and the Stock markets on Highs,and the news came out about the Corona Vaccine that USA has made and that will be fully ready to use in the next coming 2 months and thats the key factor of gold's bearish movement.
The Red oval area indicates the restricted area and Avoid Trading.
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The Red oval area indicates the restricted area and Avoid Trading.
Comment us if you need any Help