I will update gold on the daily basis later today. Haven't decided to post a public or private idea. On the hourly chart the pullback seems to be done. The dip buyers have arrived in the morning . Right now we are tagging the 200 SMA and the head & shoulders pattern's neckline.
The RSI is near to extremely overbought , MACD seems to want to stay in the negative territory and turn down again.
In the next 2 days we need to drop to the lower trendline between 1315-1319$ and break it down. There is no daily cycle that will be finished after one marubozu. The decline is not over yet.
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Day traders can set a take profit at 1319. The trendline will be broken soon.
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I just got the memo TV set this idea as not recommended. Maybe thats the reason it's working well.