GOLD Testing Key Support | Potential Bullish Reversal

Gold -0.06% has fallen sharply today as global markets recover slightly. Now price is currently in a pullback, in which price could be vulnerable for another break to test the final support level . Nevertheless, gold -0.06% could recover sharply this week if global markets return to red. After all, we cannot forget that the market sell-off last week signal a strong bearish sentiment.

GOLD Testing Key Support I Potential Bullish Reversal

Trade Step-ups:

Bullish Reversal: Price swings to the topside of the bearish channel . Profit levels to look for are 1230.00 & 1240.00.

Bearish Bearish Breakout: Price breaks final support level of the bullish channel . Look for consolidation below 1200.00.

Market Positioning:

IG Broker Client: 84.00% Long

XM Broker Client: 73.90% Long

Oanda Broker Client: 66.14% Long

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