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– based Bloomberg
Pair's Outlook
On early Tuesday morning, the bullion had almost touched the weekly PP at 1,333.94. However, the yellow metal remains squeezed in between a strong support level represented by the monthly PP at 1,326.43 and a resistance cluster from the upside made up from the 20 and 100-day SMAs respectively at 1,330.49 and 1,336.33 and the weekly PP 1,333.94. Due to this fact and the daily aggregate technical indicators, which forecast no changes in the metal's price during today, it is most likely that the metal will continue fluctuating between these levels until some fundamentals set a direction for the bullion.
Traders' Sentiment
Trader open positions are almost neutral, as 49% of them are long. In the meantime, the expectations of a surge are growing, as 73% of pending commands are to buy.
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