Gold continues to extend losses, penetrating support at 1120 and is currently heading to an expected last support at 1111. The price is next predicted to rebound, as Gold is now settling at 1119.

Dear Traders,

Gold continues to extend losses, penetrating support at 1120 and is currently heading to an expected last support at 1111. The price is next predicted to rebound, as Gold is now settling at 1119.

Is it a sign for Gold to respond next Friday's NFP with bullish sentiment? As what happened last month at the same time around NFP release, the precious metal was able to improve, although Gold price was in a quite deep bearish correction at that point. Let's just wait and see how will NFP impact price direction next Friday.

 

Technical Analysis

This H4 chart presents one of the possibilities from Elliot Wave to help you make your trading decision today.

Gold



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