DeGRAM | GOLD pullback trade

GOLD is consolidating following a bounce off the support.

It made a new extension by breaking the previous resistance and closing above it.

The market is creating the AB=CD pattern as a pullback.

We expect a pullback and continuation opportunity at the support level.



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Commento:

GOLD pulled back from the resistance level.

The market bounced off the significant support level.

Price is most likely to break the channel, test the channel border, and make a new extension.

We anticipate a retest of the major resistance and a complete AB=CD pattern on the hourly chart.