07/06 - Will gold have a breakthrough point?

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Gold traders were boosted by a sluggish US Dollar, unimpressive markets and mixed China data.
However, there are some challenges for gold buyers near the $1970 level as yields continue to fall.
Gold price encounters many resistance levels around $1970, which makes it difficult for buyers.
The immediate support is at $1955, and if the gold bears conquer this level, the one-week 61.8% Fibonacci level could act as an additional filter towards the north near $1952 before welcoming the bulls.

Let's focus on the price range from 1969 to 1952. You can scalping this price zone

How do you feel?
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Sell 1965 -> 1957
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The global economist at Pimco suggests that the Federal Reserve might have plans for additional rate hikes.
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Buy 1955 -> 1962 70pips
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ECB member makes very pessimistic statements about inflation and interest rates
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Sell again 1966 -> 1957
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Gold fails to break through the 1970 resistance area
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Sell 1970 +290pips
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