Gold is still bearish and we could see a move up as a part of retracement.
Gold is still bearish and we could see a move up as a part of retracement. Profit-taking and new buyers are joining.
The POC in the Gold comes at 1725 as the price is bullish. We could see a continuation towards 1740. If 1740 is broken we will see a move up towards 1760 and above. This is where historical buyers are so we can see a potential for a move up. Have in mind that a bullish move is a part of retracement in a downtrend and we still can make money by trading the setup.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. On average around 80% of retail investor accounts loose money when trading with high leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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