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Gold, as expected, bounced towards short-term cloud resistance but got rejected. Recent lows are important short-term support. A break above yesterday highs could signal that an important short-term low is in.
Gold price is trading below the Kumo (cloud) of the 4-hour chart. Price is still inside the bearish channel and yesterday it reached the lower cloud boundary resistance and got rejected. Resistance is at $1,271. Support is at $1,260. Breaking support will push it to $1,250-45. Breaking resistance will push it to $1,285.Daily Gold price candles are trading right above the kijun-sen support indicator. Price could reverse to the upside from current levels and bulls should use $1,260 as a stop for short-term trades. My long-term bullish view remains unchanged.Le recensioni analitiche di InstaForex ti renderanno pienamente consapevole delle tendenze del mercato! Essendo un cliente InstaForex, ti viene fornito un gran numero di servizi gratuiti per il trading efficiente.