Gold is fulfilling its bullish margin move and has immediately entered a correction to the 1/4 margin zone, precisely respecting the levels.
Technically, the current level is also attractive for long positions, though we have a solid liquidity strike below in the 4094 area. This aligns with the local extreme from July 14, providing additional support.
Target-wise, we are looking at the nearest balances in the 4145 area, with a call spread at 4195.
Stopped out. Staying on the sidelines.
Gold has broken below the 1/2 margin zone. IF it consolidates here, a downward reversal is back in play.
Watching to see if price is pushed back into the 1/2 zone.
Explore more in the GOLD Trading Hub →