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– Mark Lundeen (based on investing.com)
Pair's Outlook
The yellow metal is falling, as it started to lose its value on Friday, when the metal fell from the height of 1,352 to 1,340 level. On Monday morning, gold managed to fall even more, as by 5:00 GMT the yellow metal traded at 1,333, and it had touched the newly formed weekly S1 at 1,331.76. However, it looks like the metal rebounded against the support line, as it had been surging in the past hours up to 5:00 GMT, and the daily aggregate technical indicators forecast a northward move for the pair during today's trading session.
Traders' Sentiment
SWFX trader collectively have not changed their mind, as, just like on Friday, 52% of open positions remain short on Monday. In the meantime, pending orders are 52% long.
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