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Gold Sellers are Waiting in the Ambush

By:
Nenad Kerkez
Published: Feb 16, 2021, 11:13 GMT+00:00

Gold is still bearish. The market is pretty rangy this week so far, but we expect some volatility today and especially tomorrow before and during the FOMC.

Gold

At this point we might be waiting for a gold pullback towards 78.6-88.6 zone to make another short trade. Last week short trades came in good profits and I think the POC zone will be valid again for short sellers. 1855-66 is the zone where sellers are waiting. In the case of rejection we need to watch for 1838 followed by 1811 and 1785.

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Cheers and safe trading,

Nenad

For a look at all of today’s economic events, check out our economic calendar.

About the Author

Nenad Kerkezcontributor

M.Ec. Nenad Kerkez aka Tarantula is Elite CurrenSeas Head trader and a valued contributor to many premium Forex and trading websites.

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