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Commodity Trade Idea: Gold – Corrective Pullback Towards Support | Dec 18
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XAUUSD – Weak Corrective Pullback Into Support Zone (daily chart)
Price Action Context
After an impressive bull run between June and September this year, Gold has been in a corrective pullback.
Within this larger pullback there has been a clear smaller bearish impulsive/corrective pattern forming, hinting about a likely continuation towards the LT key support zone at which we’re looking to go long.
LT bullish while above 1425 on a daily closing basis.
Key Support & Resistance Levels
R: 1525 – 1565
S: 1425 – 1440
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