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.

Trending Analysis

LT bullish while above 1425 on a daily closing basis.

Key Support & Resistance Levels

R: 1525 – 1565

S: 1425 – 1440

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