Wednesday, June 2, 2021 7:22 AM EDT
Gold has made a retracement from recent highs straight into the first bounce zone.
There are the two POC zones that could spike the price up. 1885-1889 is the deeper pullback zone and we could see it holding. However, the thing is that the first POC zone 1895-98 could make a bounce. Bulls are still in control. Targets are 1903, 1914, and eventually 1923. Buying the dips is the scenario that I am going with.
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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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