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Gold, Midday Thoughts
The 4650 support level for gold has still proven effective, and the trend has rebounded as expected to 4830. Next, watch for 4900.
Although bullish, I will always be prepared for a downward move. The upward space is now limited, and this is the last chance to catch the final wave of the fish tail pattern. Currently, although optimistic, I remain cautious.
Key support below is 4750; continue to go long for now. In live trading, I will constantly advise to take profits and will guide in real-time to catch the top.
Go long around 4813, targeting 4900.