EmpowerTrader
Long

GOLD Testing Key Support I Potential Bullish Reversal

TVC:GOLD   CFDs on Gold (US$ / OZ)
Gold has fallen sharply today as global markets recover slightly. Now price is currently in a pullback, in which price could be vulnerable for another break to test the final support level . Nevertheless, gold could recover sharply this week if global markets return to red. After all, we cannot forget that the market sell-off last week signal that sentiment is bearish .

Trade Step-ups:

Bullish Reversal: Price swings to the topside of the bearish channel . Profit levels to look for are 1230.00 & 1240.00.

Bearish Bearish Breakout: Price breaks final support level of the bullish channel . Look for consolidation below 1200.00.
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