The mildly chaotic series of ups and downs of the last three days has produced, not dueling impulse legs on the hourly chart, but a preponderance of bearish legs that tips the bias negative for the near term. Traders can still use a pullback today from just above 1104.80 to get long via “camouflage,” since that would be the first speculative sign that Gold is turning around. Alternatively, a move lower would encounter potentially tradable support in the range 1074.50-1075.90.
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