Monday, January 17, 2022 6:48 AM EDT
GOLD is bullish. We should see the move up as bulls are showing strength.
Photo by Jingming Pan on Unsplash
GOLD price is supported at 1815. Bulls are trying to spike the price up as the technicals look bullish. Ascending trend line, 1-2-3 pattern which is a part of cup with handle structure makes up for the bullish POC zone. Targets are 1845 and if it breaks then the next one is the 1860 zone. Buying the dips is the scenario now.
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Source: Black Widow system.
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Disclaimer: 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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