I guess we all were surprised how the price dropped yesterday. With NPF Gold lost almost 2,5%.
What's now?
Ahead, a key structure support and summer's low. 1750 - 1760 is a demand area. I will look for an intraday confirmation within that zone to buy catching a pullback.
What is confirmation? To me, confirmation is a reversal pattern (h&s/double bottom/triangle/wedge) being formed within an underlined zone and its neckline breakout.
Closest support for target - 1787.
Alternatively, if you are looking for shorting opportunities, consider a bearish breakout (daily candle close below) of an underlined yellow structure. It will push the market to lower structure levels.
Have a great weekend!
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