Since our previous analysis, Gold has been trading sideways at the price of $1,319.00. After Yellen’s speech on Friday, I found massive reaction from our cluster and strong pin bar in a high volume, which is sign that sellers came in into the market. Be careful when buying and watch for selling opportunities. Take profit level is set at the price of $1,310.70.
Hourly Fibonacci pivot points:
Trading recommendations for today: Watch for selling opportunities on the pullbacks.
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