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– Warren Bevan, Wizzen Trading (based on investing.com)
Pair's Outlook
The yellow metal remained unchanged at 1,265 on Monday morning. Previously, on Friday, the bullion saw some volatility and was more volatile to the upside. However, the metal's price almost did not change during the previous session, as both support and resistance are strong and keep the commodity squeezed in. On Monday, the 200-day SMA, which provided significant resistance on Friday, has moved higher and provides more room for the bullion. Although, daily aggregate technical indicators forecast that the metal's price will remain unchanged by the end of the day and even the week.
Traders' Sentiment
Traders have not changed their opinion, as open positions and pending commands remain unchanged, respectively, 57% long and 55% to buy.
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