The short-term reaction has been very volatile, with violent swings in both directions. The price of Gold has tested both that form the . There is a clear 5-wave advance that usually sets a new uptrend. The key support cluster is projected @1089. Our approach is to wait for a 4-hour candle to close either above 1099 to generate a buy signal; or below 1082 for a sell signal. While the intraday chart to the right suggests higher prices based on last swing's wave structure, the long-term trend is, obviously, down.
Shorts & margin trading: https://goo.gl/XRCcxd
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