Gold Short Term Outlook

FX:XAUUSD   Gold Spot / U.S. Dollar
60 0 3
Good morning traders,

Nice blue sky in Palma de Majorca this morning !

Gold             bottomed and formed an inflection point at 1070 area . With the breakout of descending trendline at 1160, Gold             continues Its on the course to 1200 zone , so buy on dips favoured.

A breakout below resistance area turned support 1160 , it would invalidate the short term outlook.

Best Regards

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