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– Alex Thorndike, MKS PAMP Group (based on Reuters)
Pair's Outlook
The yellow metal's price skyrocketed on Tuesday morning, as it jumped from 1,133.04 to trade above 1,150 by 7:45 GMT. This move occurred after a flat Monday's trading session was marked on the charts. Although, in reality the bullion did not trade during Monday's trading session. The fact that there is an empty candle is not the biggest problem for analysts. The problem is that the candle, which is forming on Tuesday in reality will represent the combined market force of two separate candles. That is suggested to be taken into account by traders.
Traders' Sentiment
Traders remained bullish on the metal, as 59% of them had open long positions. Meanwhile, 60% of trader set up orders were to buy the yellow metal.
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