Yesterday, US markets were closed, and, as expected, Gold was trading in a tight range, slightly above 1840 with a high at 1848. The overall medium-term trade remains bearish and, as I said in my yesterday's post, the 1850-1855 zone is the line in the sand for bears. However, at this moment, the price is above 1830 short-term support, and also Friday's close is a Pin Bar and a short-term correction could follow. So, for short-term trading, I work with 2 scenarios at this moment
1. A rejection of the 1830 zone and back above 1845 again would put the Pin Bar in play and could lead to a more meaningful correction 2. A drop under 1830 would confirm the 1850 zone as a strong ceiling and expose 1800
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