Gold price updated technical trade levels – Daily & Intraday Charts. XAU/USD testing last line of defense for September recovery – make-or-break support.
backed by the objective October openwould be needed to suggest a larger gold recovery is underway back towards the monthly range highs / key. A break below today’s low would risk resumption of the broader downtrend with such a scenario exposing subsequent1585Gold is at the precipice - today’s lows would need to hold IF price is indeed heading higher with a breach above 1688 needed to suggest a more significant low was registered last month.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests Gold prices may continue to fall. Traders are further net-long than yesterday and last week, and the combination of current positioning and recent changes gives us a stronger Gold-bearish contrarian trading bias from a
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