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– Gary Savage (based on investing.com)
Pair's Outlook
The yellow metal fell on Friday, as it started day's trading session at 1,331.42 and ended Friday's session at 1,321.39. However, the bullion started Monday's trading higher at 1,322.70, and afterwards by 5:15 GMT the metal had fallen to 1,317.40. In addition, gold was more volatile to the downside during the new week's first session, as it had touched the 1,313.54 level. If the bullion, continues to move lower, it is set to meet the support provided by the newly formed weekly S1 at 1,308.84.
Traders' Sentiment
In respect to the yellow metal SWFX traders continue to be neutral, as 50% of open positions are long. However, pending orders in 100-pip range are 70% long.
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