Gold setup

shifting sands

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Potential long in the 1230 area? May well continue lower over time but high chance of a decent bounce off the trendline
 

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Potential long in the 1230 area? May well continue lower over time but high chance of a decent bounce off the trendline

Check how gold react on news, bullish spikes may be a signal that somebody tries to mount bullish positions when other fools sell. News reaction is a good hint in this case.
For now I think most probably scenario for gold is short till 1230
 
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