Corrective downswing of gold didn’t get signs of completion so far having made close below the opening price. Thus we’re very likely to get testing of the pivot-zone 1480.00 and bulls sure thing will take efforts to guard it.
Bullish pinbar is being formed at the area of mid-term support 1492.00-1493.00, that probably will let market to recover intraday positions to the 1500.00-1501.07 region, where we might face sell-offs again.
Growth in direction 1500.00-1501.07 and then downward reversal.
Longs towards 1500.00-1501.07.
Shorts from 1500.00-1501.07.